260813.mbx
T R O U B L E D C O M P A N Y R E P O R T E R
Thursday, August 13, 2026, Vol. 30, No. 225
Headlines
12 E72ND: Secured Party Sets October 8, 2026 Public Auction
1400 PRAIRIE: Seeks Cash Collateral Access
1415 BENNETT: Seeks to Extend Plan Exclusivity to Nov. 2
2024 SIDBURY: Court to Hear Subchapter V Application on August 27
218 7TH ST. SE: Case Summary & Two Unsecured Creditors
2ND HEAVEN: Gets Another Extension to Use Cash Collateral
AAM EQUIPMENT: Unsecureds to Get Share of Income for 5 Years
ABOVE AND BEYOND: Gets Interim OK to Use Cash Collateral
AL GCX FUND VIII: Moody's Alters Outlook on 'Ba3' CFR to Negative
ALKEGEN: Ad Hoc Lender Group Advised by Davis Polk on RSA
AMERICAN TOOL: Seeks to Extend Plan Exclusivity to Oct. 12
AND GO CONCEPTS: Case Summary & 30 Largest Unsecured Creditors
APEX CREDIT: OFS Capital Marks $11.1MM Notes at 68% Off
APEX CREDIT: OFS Capital Marks $17.1MM Sub Notes at 70% Off
APEX CREDIT: OFS Capital Marks $8.6MM Notes at 87% Off
APEX DISASTER: Bacik Wins Summary Judgment in Adversary Case
APPLE ROOFING: Capital Southwest Marks $14.2MM 1L at 33% Off
APPLE ROOFING: Capital Southwest Marks $14.6MM 1L Loan at 32% Off
ARBUCKLE MEMORIAL HOSPITAL: Moody's Assigns 'Ba1' Issuer Rating
ARCHER MOTORSPORTS: Gets Final OK to Use Cash Collateral
ASSETS4LIFE LLC: Case Summary & Five Unsecured Creditors
AT&T INC: Lord Abbett Marks $25MM Bond at 34% Off
AUSTISM CENTERS: James Bailey Named Subchapter V Trustee
AVISON YOUNG: OFS Capital Marks $329,000 1L Debt at 24% Off
B & G TOTAL: Richardo Kilpatrick Named Subchapter V Trustee
B & G TOTAL: Seeks Cash Collateral Access
BAYMARK HEALTH: OFS Capital Virtually Writes Off $4.96MM 2L Debt
BAYMARK HEALTH: OFS Capital Virtually Writes Off $4MM 2L Debt
BAYMARK HEALTH: OFS Capital Virtually Writes Off $5MM 2L Debt
BEAZER HOMES: Moody's Puts 'B2' CFR on Review Direction Uncertain
BELA FLOR: Hanover Wins Dismissal of Loan Default Coverage Claim
BHB THREE: Seeks Subchapter V Bankruptcy in New York
BIGTIME HOUSING: Gets OK to Use Cash Collateral Until Sept. 9
BING PIZZA: Gets Interim OK to Use Cash Collateral Until Sept. 16
BRANDNER DESIGN: Capital Southwest Marks $9.1MM 1L at 52% Off
BRANDNER DESIGN: Capital Southwest Marks $9.1MM 1L Loan at 52% Off
CAMPANY ROOF: Capital Southwest Marks $13.2MM 1L at 26% Off
CARTA FINISHING: Case Summary & 20 Largest Unsecured Creditors
CCSL BILOXI: Seeks 120-Day Extension of Plan Filing Deadline
CDI FUND I: Involuntary Chapter 11 Case Summary
CHS FL: Court OKs M. Goldberg's Appointment as Chapter 11 Trustee
CHVAC SERVICES: Golub Capital Marks $714,000 Loan at 24% Off
CNT HOLDINGS: Moody's Affirms 'B2' CFR, Outlook Stable
CORNERSTONE ONDEMAND: New Mountain Marks $1.8MM Loan 36% Off
CORNERSTONE ONDEMAND: New Mountain Marks $2.5MM Loan 36% Off
CORSAIR BLADE: Golub Capital Marks $1.2MM Loan at 50% Off
COVERCRAFT PARENT: Golub Capital Marks $1.39MM Loan at 27% Off
COVERCRAFT PARENT: Golub Capital Marks $6.8MM Loan at 27% Off
CP&J FARMS: Seeks to Use Cash Collateral
CROSBY MARINE: Asset Auction Scheduled for August 13, 2026
CROSSCOUNTRY INTERMEDIATE: Moody's Rates New $500MM Unsec. Notes B1
CSC HOLDINGS: Lord Abbett Marks $22.47MM Loan at 43% Off
CUMULUS MEDIA: Faces Delay in Nielsen Injunction
CURRY HEALTH: Moody's Assigns 'Ba1' Issuer Rating
D.A.R. CARRIER: Seeks Subchapter V Bankruptcy in Illinois
DEAF SMITH COUNTY HOSPITAL: Moody's Assigns 'Ba2' Issuer Rating
DIOCESE OF CAMDEN: Aug. 18 Insurer Settlement Approval Hearing Set
DISH DBS: Clash w/ Creditors Over FCC Order's Impact on Ch. 11
DREAM FINDERS: Moody's Puts 'B1' CFR on Review for Downgrade
ECHOSTAR CORP: Dish Lenders Pursue Billions Over Boost Mobile Deal
ELECTRICITE DE FRANCE: Lord Abbett Marks $24.4MM Bond at 29% Off
ELECTRICITE DE FRANCE: Lord Abbett Marks $24.4MM Bond at 29% Off
ELECTRICITE DE FRANCE: Lord Abbett Marks $5.6MM Bond at 29% Off
EMBECTA CORP: New Mountain Marks $3.7MM Bond 20% Off
EMERALD TECHNOLOGIES: Capital Southwest Marks $3.4M Loan at 35% Off
EXCELIN HOME: OFS Capital Marks $7.1MM 2L Debt at 43% Off
EXCELIN HOME: OFS Capital Marks $7.8MM 2L Debt at 75% Off
FASTBOATS.COM SALES: Case Summary & 18 Unsecured Creditors
FINCH THERAPEUTICS: Plan Confirmation Hearing Scheduled for Sept. 1
FLASH CHARM: New Mountain Marks $10.3MM Loan 22% Off
FLASH CHARM: New Mountain Marks $6.1MM Loan 22% Off
FLECK REAL ESTATE: Todd Hennings Named Subchapter V Trustee
FORTUNA STONEWORKS: Unsecureds to Get Share of Income for 36 Months
FRANCESCA'S ACQUISITION: Creditors to Get Proceeds from Liquidation
G & S SHIPPING: Seeks Subchapter V Bankruptcy in New York
GAINS INTERMEDIATE: Capital Southwest Marks $7M 1L Loan at 57% Off
GAINWELL HOLDING: Moody's Upgrades CFR to B3, Outlook Stable
GENESIS HEALTHCARE: Judge Allows Sidley to Advise in Ch. 11 Suits
GENESIS HEALTHCARE: Plan Confirmation Hearing Scheduled for Oct. 6
GLADE AT NOTTINGHAM: Glen Watson Named Subchapter V Trustee
GOTO GROUP: OFS Capital Marks $1.3MM 1L Debt at 61% Off
GPS HOSPITALITY: Lord Abbett Marks $11.8MM Loan at 53% Off
GRANDE ISLE: Plan Exclusivity Period Extended to Nov. 23
GRANT COUNTY PUBLIC HOSPITAL: Moody's Assigns 'Ba1' Issuer Rating
GRIFFON CORP: Moody's Raises CFR to Ba2, Outlook Stable
GRUPO ANTOLIN-IRAUSA: Aug. 19 Chapter 15 Recognition Hearing Set
HANOVER COLLEGE: Moody's Cuts Issuer & Revenue Bonds Rating to Ba2
HAVANA VENTURES: Richard Furtek Named Subchapter V Trustee
HAVEN 10 PROPERTY: J. Maxwell Beatty Named Chapter 11 Trustee
HAWAIIAN ELECTRIC: S&P Withdraws 'B' ST Issuer Credit Rating
HELP/SYSTEMS HOLDINGS: New Mountain Marks $11.08MM Loan 24% Off
HELP/SYSTEMS HOLDINGS: New Mountain Marks $6.01MM Loan 24% Off
HERITAGE GROCERS: OFS Capital Marks $8.9MM 1L Debt at 36% Off
HOLLYWOOD EXCAVATING: Kathleen DiSanto Named Subchapter V Trustee
HOLLYWOOD EXCAVATING: Seeks Subchapter V Bankruptcy in Florida
HOUGHTON MIFFLIN: New Mountain Marks $14.2MM Loan 21% Off
HOUGHTON MIFFLIN: New Mountain Marks $7.9MM Loan 21% Off
HOUGHTON MIFFLIN: New Mountain Marks $8.1MM Loan 21% Off
HP LODGING: Gets Interim OK to Use Cash Collateral Until Aug. 31
HUGHES SATELLITE: Lord Abbett Marks $12.5MM Loan at 37% Off
HUNT PROPERTIES: Lender Seeks to Prohibit Cash Collateral Access
HYDROTECH INC: Court OKs Bid to Appoint Chapter 11 Trustee
INSTANT BRANDS: Trustee Dispute Persists in NY Litigation
INTEGRATED PROTEINS: Gets Interim OK to Use Cash Collateral
INTEL CORP: Lord Abbett Marks $3.9MM Bond at 22% Off
INTERNATIONAL PETROLEUM: Moody's Affirms 'B1' CFR, Outlook Stable
IRONWORX LLC: Commences Chapter 11 Bankruptcy in Illinois
JACKS FARM: Case Summary & Four Unsecured Creditors
JANE STREET: S&P Assigns 'BB' Rating to $14.6BB Sr. Secured Notes
KASEYA INC: New Mountain Finance Marks $12.7MM Loan 22% Off
KIMBLE COUNTY HOSPITAL: Moody's Assigns 'Ba3' Issuer Rating
KNOT WORLDWIDE: Moody's Cuts CFR to Caa1, Outlook Stable
LEISURE INVESTMENTS: Court Won't Toss Controladora Bankruptcy Case
LEISURE INVESTMENTS: Seeks Court OK for $2MM Asset Sale
LIZA HAZAN: Loses Bid to Strike Judgment in JMB Adversary Case
LOGIX HOLDING: Capital Southwest Marks $2.4MM 1L Loan at 20% Off
LONGFOR GROUP: Lord Abbett Marks $2.2MM Loan at 25% Off
M2S GROUP: New $40MM Loan Add-on No Impact on Moody's 'B2' CFR
MANANA RESTAURANT: Gets OK to Use Cash Collateral Until Sept. 8
MAPF HOLDINGS: Golub Capital Marks $3.5MM Loan at 30% Off
MARELLI AUTOMOTIVE: Moves to Dismiss OPmobility Suit Over CEO Hire
MARIO PURCHASER: Golub Capital Marks $5.6MM Loan at 23% Off
MEGA KYON: Unsecureds Will Get 10% of Claims via Quarterly Payment
MERCY HEALTH: Gets Interim OK to Use Cash Collateral Until Sept. 10
METATIEDOT BIDCO: Golub Capital Marks $340,000 Loan at 40% Off
MOBICO GROUP: Lord Abbett Marks GBP$2.98MM Notes at 21% Off
MODIVCARE INC: Former Execs Must Face Investor Cash-Flow Suit
MYSTIQUE ESCAPE: Andrew Layden Named Subchapter V Trustee
NAVA HEALTH: Seeks 60-Day Extension of Plan Filing Deadline
NBG ACQUISITION: Golub Capital Marks $362,000 Loan at 21% Off
NOLAN COUNTY HOSPITAL: Moody's Assigns 'B3' Issuer Rating
OGX AUSTRIA GMBH: Lord Abbett Virtually Writes Off $1.8MM Loan
ONE GI LLC: OFS Capital Marks $1.5MM 1L Revolver at 21% Off
ONE GI LLC: OFS Capital Marks $4MM 1L Debt at 21% Off
ONE GI LLC: OFS Capital Marks $7.6MM 1L Debt at 21% Off
ORACLE CORP: Lord Abbett Marks $10MM Note at 27% Off
ORACLE CORP: Lord Abbett Marks $12MM Bond at 40% Off
ORYX SYSTEMS: Iron Horse Conducts Bankruptcy Auction
PACIFIC OAK: Secured Party Sets September 15, 2026 Public Auction
PALOMAR HEALTH: Moody's Assigns 'B2' Issuer Rating
PERFORCE SOFTWARE: New Mountain Marks $4.01MM Loan 48% Off
PHOENIX FUND: Seeks to Use Cash Collateral Until Aug. 31
PLANET BINGO: OFS Capital Marks $16.6MM 1L Debt at 53% Off
PLANET BINGO: OFS Capital Marks $16.6MM 1L Debt at 56% Off
PLATINUM HEALTHCARE: Daniel Etlinger Named Subchapter V Trustee
PLATINUM RECRUITING: H. Faith Welch Named Subchapter V Trustee
PLURALSIGHT LLC: Golub Capital Marks $7.4MM Loan at 77% Off
POWER STOP: Moody's Upgrades CFR to B3, Outlook Stable
PPVA BLACK: New Mountain Marks $14.5MM Subordinated Loan 81% Off
PROJECT ALPHA: New Mountain Marks $9.8MM 2L Loan 27% Off
PROSSER PUBLIC HOSPITAL: Moody's Assigns Ba1 Issuer Rating
PROTEUS MOLECULAR: William Schilling Named Subchapter V Trustee
QTP II INC: Seeks Subchapter V Bankruptcy in Texas
QUIDELORTHO CORP: Moody's Cuts CFR to B2 & Alters Outlook to Neg.
RELIABLE MOVERS: Unsecured Creditors to Split $10K in Plan
RLG HOLDINGS: New Mountain Finance Marks $7.1MM Loan 42% Off
RLG HOLDINGS: New Mountain Marks $1.1MM 1L Loan 42% Off
RQM+ CORP: SLR Investment Marks $26.7MM 1L Loan at 30% Off
RQM+ CORP: SLR Investment Marks $6.7MM Loan at 30% Off
SANDY HOOK: Unsecured Creditors Will Get 100% of Claims in Plan
SANGAMO THERAPEUTICS: Court Sets Sept. 22, 2026 General Bar Date
SCOGGINS INDUSTRIAL: Case Summary & Seven Unsecured Creditors
SCOGGINS INDUSTRIAL: Court OKs Bid to Use Cash Collateral
SCOTT ZIMMERMAN LOGGING: Initiates Chapter 11 Bankruptcy in Pa.
SECRETARIAT ADVISORS: New Mountain Marks $383,000 1L Loan 99% Off
SES AMERICOM: Lord Abbett Marks $6.2MM Loan at 23% Off
SHIMAO GROUP: Lord Abbett Virtually Writes Off $249,000 Loan
SIFI NETWORKS: Court Sets Aug. 28, 2026 General Bar Date
SIGNAL PARENT: OFS Capital Marks $1.5MM 1L Debt at 28% Off
SIGNAL PARENT: OFS Capital Marks $1.5MM 1L Debt at 60% Off
SIMPLER POSTAGE: Secured Party Sets August 14, 2026 Public Auction
SIRIUS XM: Moody's Affirms 'Ba3' CFR, Outlook Remains Stable
SKY INN: Case Summary & Three Unsecured Creditors
SLEEP NUMBER: Advised by Davis Polk on Sec. 363 Going Concern Sale
SMARTHANDS COMPANY: Commences Subchapter V Bankruptcy in Georgia
SOUTHERN CHIROPRACTIC: Gets Interim OK to Use Cash Collateral
SPECTRUM OF HOPE: Capital Southwest Marks $11.1MM 1L Loan 45% Off
STAOC CORP: Case Summary & 11 Unsecured Creditors
STAOC CORP: Gets Interim OK to Use Cash Collateral Until Sept. 3
STRONG BASE: Commences Chapter 11 Bankruptcy in Arizona
STUDENT RESOURCE: Capital Southwest Virtually Writes Off $9.6M Loan
SUN BUGGY: Case Summary & 20 Largest Unsecured Creditors
SYMPLR SOFTWARE: New Mountain Marks $15.1MM Loan 34% Off
T & T VENTURES: Lauren Goodman Named Subchapter V Trustee
TACOMA ARTS: New CEO Reshapes Strategy to Exit Receivership
TACOS Y TEQUILA: Gets Interim OK to Use Cash Collateral
TITAN FITNESS: Golub Capital Marks $3.3MM Loan at 35% Off
TITAN FITNESS: Golub Capital Marks $46.2MM Loan at 35% Off
TITAN FITNESS: Golub Capital Marks $640,000 Loan at 49% Off
TOGETHERWORK HOLDINGS: Golub Capital Marks $255,000 Loan at 28% Off
TOLEMAR ACQUISITION: OFS Capital Marks $14.4MM 1L Debt at 27% Off
TOLEMAR ACQUISITION: OFS Capital Marks $14.5MM 1L Debt at 39% Off
TOLEMAR ACQUISITION: OFS Capital Marks $978,000 1L Loan at 62% Off
TRUE AMERICAN: Seeks Cash Collateral Access
TTNG HOLDINGS: Claims to be Paid from Continued Operations
U.S. TELEPACIFIC: Capital Southwest Marks $2.7MM 1L at 60% Off
U.S. TELEPACIFIC: Capital Southwest Marks $230,000 Loan at 75% Off
UPSTREAM NEWCO: Moody's Raises CFR to Caa1, Outlook Remains Stable
US FERTILITY: New Mountain Virtually Writes Off $383MM Loan
V2X INC: S&P Ups ICR to 'BB-' on Demand Tailwinds, Outlook Stable
VALCOUR PACKAGING: New Mountain Marks $2.3MM Loan 22% Off
VALCOUR PACKAGING: New Mountain Marks $3.6MM Loan 15% Off
VAREX IMAGING: S&P Places 'B+' ICR on CreditWatch Positive
WATERFRONT RESORT: Ch. 11 Trustee Seeks Contempt in Condo Rent Case
WAYFAIR LLC: S&P Upgrades ICR to 'BB' on Solid Performance
WEPELLET LLC: Case Summary & Seven Unsecured Creditors
WEST MARINE: Gets Court OK to Exit Chapter 11, To Cut Debt
WINESHIPPING.COM LLC: Golub Capital Marks $11.4MM Loan at 29% Off
WINESHIPPING.COM LLC: Golub Capital Marks $308K Loan at 29% Off
WINESHIPPING.COM: Golub Capital Marks $261,000 Loan at 31% Off
[^] Recent Small-Dollar & Individual Chapter 11 Filings
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12 E72ND: Secured Party Sets October 8, 2026 Public Auction
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NYC SFR Portfolio LLC, successor-in-interest to Axos Bank ("Secured
Party") will offer for sale at public auction (the "Sale") (1) 100%
of the limited liability membership interests (the "Membership
Interests") in 12 E72nd LLC, a New York limited liability company
("Pledged Entity"), held by Edward L. Croman, Steven Croman,
Harriet Croman, and 12 East 72nd Manager LIC (each a "Grantor," and
collectively, "Grantors") as set forth in that certain Pledge and
Security Agreement dated August 25,2003 (the "Pledge Agreement),
together with (2) all cash payments in kind, principal, interest,
fees, commissions, reimbursements, and other payments of any kind
and all conversions, substitutions, exchanges, and replacements
made pursuant to the Articles of Organization and Limited Liability
Company Agreement of Pledged Entity, in each case relating to the
Membership interests in Pledged Entity (the "Collateral Proceeds,"
together with the Membership Interests, the "Collateral").
The Sale will take place on October 8, 2026 at 2:00 p.m. Eastern
Time in compliance with Uniform Commercial Code Section 9-610 both
(i) at Moritt Hock & Hamroff LLP, 1407 Broadway, 39th Floor New
York, NY 10018; and (ii) virtually via online video conference. The
link address and password for the online vide conference will be
provided to all registered participants.
The Sale is being made in connection with the foreclosure on a
pledge of the Collateral to the Secured Party by Grantors under the
Agreement, pursuant to which Grantors have granted to Secured Party
a first priority lien on the Collateral as security for a loan in
the original principal amount of $31,000,000.00 (the "Loan") from
Axos Bank (predecessor-in-interest to Secured Party) to Pledged
Entity and Steven Croman (together, "Borrowers"). The Loan was made
pursuant to that certain Note dated August 25, 2023, entered into
between Axos Bank and Borrowers (the "Note") and pursuant to that
certain Loan Agreement dated August 25, 2023, entered into between
Axos Bank and Borrowers (the "Loan Agreement"). It is the
understanding of Secured Party (but without representation or
warranty of any kind by Secured Party as to the accuracy of the
following) that the Loan is in default.
Based upon information provided by Borrowers, it is the
understanding of Secured Party (but without representation or
warranty of any kind by Secured Party as to the accuracy of the
following) that: (i) Grantors own the Membership Interests, (ii)
Pledged Entity is the owner of certain real property located at
12-14 East 72nd Street, New York (the "Property"), (iii) Pledged
Entity's principal assets are the Property and certain related
rights, and (iv) the Property is encumbered by a mortgage lien
granted by Pledged Entity as security for the Loan made pursuant to
that certain Consolidated, Amended and Restated Mortgage,
Assignment of Leases and Rents, Security Agreement and Fixture
Filing dated August 25, 2023 (the "Mortgage").
An online datasite for the Sale (the "Datasite") is available at
the following link: http://www.12East72ndStUCCSale.com.The
Datasite will include certain relevant information that Secured
Party possesses concerning Pledge Entity Borrowers, the Loan, and
the Mortgage (collectively, the "Disclosed Materials") as well as
the Terms of Sale for Public Auction relating to the Sale of the
Collateral ("Terms of Sale"). Access to such information will be
conditioned upon execution of a confidentiality agreement which can
be found on the Datasite. To participate in the auction,
prospective bidders must confirm their ability to satisfy the
Requirements in the manner described in the Terms of Sale, and
following such confirmation, such qualified participants will be
provided a URL and password enabling access to the video conference
for the Sale.
No information provided, whether in the Datasite or otherwise,
shall constitute representation or warranty of any kind with
respect to such information, the Collateral or the Sale.
Participants are encouraged to review all Disclosed Materials and
perform such due diligence as they deem necessary in advance of the
Sate.
The Collateral will be offered in a single lot. The Collateral is
being sold strictly on an "AS IS AND WHERE IS" BASIS, AND (i)
WITHOUT ANY REPRESENTATIONS OR WARRANTIES (WHETHER EXPRESSED OR
IMPLIED) OF ANY KIND MADE BY SECURED PARTY (OR ANY OTHER PERSON
ACTING FOR OR ON BEHALF OF SECURED PARTY), INCLUDING, WITHOUT
LIMITATION, WITH RESPECT TO THE EXISTENCE OR NONEXISTENCE OF OTHER
LIENS, THE QUANTITY, QUALITY, CONDITION OR DESCRIPTION OF THE
COLLATERAL, THE PROPERTY AND/OR THE VALUE OF ANY OF THE FOREGOING,
AND (ii) WITHOUT ANY RECOURSE WHATSOEVER AGAINST SECURED PARTY (OR
ANY OTHER PERSON ACTING FOR OR 0N BEHALF OF SECURED PARTY). Without
limiting the foregoing, any purchaser must purchase the Collateral
subject to the terms of the governing documents of the Pledged
Entity (including its operating agreement.)
Questions may be directed to Brett Rosenberg, Senior Managing
Director at JLL Capital Markets at (212) 812-5926 or
Brett.Rosenberg@jll.com.
1400 PRAIRIE: Seeks Cash Collateral Access
------------------------------------------
1400 Prairie Creek Drive, LLC asks the U.S. Bankruptcy Court for
the Western District of Arkansas, Fayettville Division, for
authority to use cash collateral.
The Debtor's cash collateral consists of rents from its commercial
and residential properties located in Rogers, Fayetteville and
Bentonville, Arkansas. These rents are the sole source of the
Debtor's income.
Because these rents constitute cash collateral, the Debtor seeks
authorization to use them for day-to-day operations, maintenance,
utilities, payroll, U.S. Trustee fees, and court-approved
professional fees under the proposed 90-day budget.
The Debtor's primary lenders -- MERS, Selene Finance,
Champions/MERS, Cornerstone Servicing, and Wilmington Savings Fund
-- hold mortgages on the properties, which also include an
assignment of rents to additionally secure the Debtor's obligations
to these lenders. Meanwhile, only Two Blonde Bros. holds an
assignment of rents among the secondary lenders.
The Debtor proposes granting each primary lender adequate
protection in the form of a superpriority administrative claim and
a first-priority security interest in the post-petition rents
derived from their respective collateral.
Furthermore, the Debtor proposes monthly cash distributions based
on net operating income. MERS, Selene Finance, Cornerstone
Servicing, and Wilmington Savings Fund will each receive 90% of the
net operating income generated by their respective encumbered
property from the preceding month. Meanwhile, Champions/MERS and
Two Blonde Bros. will share a pro-rata distribution equal to 90% of
the Fayetteville property's prior month NOI.
As additional safeguards, the Debtor agrees to maintain full
property insurance coverage in compliance with pre-petition loan
agreements and submit monthly accounting disclosures through
standard U.S. Trustee operating reports.
The proposed use of cash collateral and adequate protection
measures are intended to stay in effect through the confirmation of
a reorganization or liquidation plan, or until the Debtor's Chapter
11 case is dismissed or converted to one under Chapter 7.
A copy of the motion is available at https://urlcurt.com/u?l=Ct7Yzr
from PacerMonitor.com.
About 1400 Prairie Creek Drive LLC
1400 Prairie Creek Drive LLC is a Bentonville, Arkansas-based
lessor of real estate. The company owns and manages a real estate
portfolio that includes The Nest at Prairie Creek event venue,
student housing properties, a five-bedroom residential rental in
Fayetteville, and commercial lots in the Rose Hill subdivision of
Washington County.
1400 Prairie Creek Drive LLC sought relief under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. W.D. Ark. Case No. 26-71408) on July
20, 2026. In its petition, the Debtor reports estimated assets of
$1 million to $10 million and estimated liabilities of $1 million
to $10 million.
Honorable Bankruptcy Judge Bianca M. Rucker handles the case.
The Debtor is represented by Stanley V. Bond, Esq., at the Bond Law
Office.
1415 BENNETT: Seeks to Extend Plan Exclusivity to Nov. 2
--------------------------------------------------------
1415 Bennett LLC asked the U.S. Bankruptcy Court for the Northern
District of Texas to extend its exclusivity periods to file a plan
of reorganization and obtain acceptance thereof to Nov. 2, 2026 and
Jan. 1, 2027, respectively.
The Debtor explains that cause exists to extend the exclusive
periods for several reasons. First, this case is at an early stage.
Only approximately 90 days have elapsed since the Petition Date.
The Debtor has used that time productively to stabilize operations,
file schedules, secure authority to use cash collateral, attempt to
finalize an operating budget grounded in actual results, and
analyze the proofs of claim filed by Dallas County and the IRS.
In addition, the IRS proof of claim was not filed until July 10,
2026, less than one month before the expiration of the 90-day Plan
Filing Period, and the Debtor needed time to incorporate the IRS
claim into the Plan's classification and treatment of unsecured
claims.
Second, the Debtor has made substantial progress toward a
confirmable plan. The Debtor is preparing a Plan that restructures
SBN's fully secured claim into a 30-year amortizing note, with a
5-year loan term at a modified rate of interest, pays the Dallas
County priority tax claim in full over the plan term, and
distributing any excess to unsecured creditors. The Plan is funded
by the Debtor's net operating income (approximately $188,000
annually), and accumulated cash on hand (approximately $109,551 as
of November 30, 2026).
Third, the Debtor needs a modest additional period to finalize the
negotiated terms of the restructuring with SBN. Finalizing the
Modified Rate mechanics, cure amounts, and the amortization
schedule requires coordination that cannot be completed before the
August 3, 2026 or September 1, 2026 deadline, particularly given
that the IRS proof of claim was filed only three weeks before the
August 3, 2026 deadline.
Fourth, an extension of exclusivity will not prejudice creditors.
SBN is fully secured, is receiving adequate protection through
replacement liens and the preservation of its collateral, and
Debtor will be paying non-default interest payments to creditor for
additional adequate protection. The Debtor's operations are stable,
the Property is 100% occupied and generating consistent cash flow.
No party will be harmed by allowing the Debtor a brief additional
period to file and solicit acceptance of a consensual or cramdown
plan.
Fifth, the Debtor's case has a reasonable prospect of success. The
Property can generate sufficient net operating income to service
the restructured debt under fair terms, and pay the priority tax
claim.
The Debtor claims that no creditor will be prejudiced by the
requested extension. SBN is fully secured and is receiving adequate
protection through replacement liens, the continuing preservation
of its first priority collateral, and interest payments if
authorized. The limited unsecured creditor body is best served by a
consensual or cramdown plan that distributes value over the plan
term, rather than by a truncated process that could lead to a
competitive filing of plans or, worse, stay relief and
foreclosure.
1415 Bennett LLC is represented by:
Matthew Glenn Messerli, Esq.
The Messerli Law Firm, PLLC
99 Trophy Club Drive,
Trophy Club, TX 76262
Telephone: (817) 601-5075
Email: mmesserli@themesserlilawfirm.com
About 1415 Bennett LLC
1415 Bennett, LLC is a single-asset real estate entity associated
with 1415 Bennett, a multifamily residential property located in
Dallas, Texas. The property provides studio apartment housing and
resident services including modern appliances and concierge
services.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Texas Case No. 26-31991) on May 4,
2026. In the petition signed by Venkat Arumilli, managing member,
the Debtor disclosed up to $10 million in both assets and
liabilities.
Judge Scott W. Everett oversees the case.
Matthew G. Messerli, Esq., at The Messerli Law Firm, PLLC,
represents the Debtor as bankruptcy counsel.
2024 SIDBURY: Court to Hear Subchapter V Application on August 27
-----------------------------------------------------------------
Judge Paul W. Bonapfel of the U.S. Bankruptcy Court for the
Northern District of Georgia will hold a hearing on 2024 Sidbury
Development, LLC's amendment of petition to elect application of
subchapter V and extension of deadlines for status conference and
filing of plan on August 27, 2026, at 1:30 p.m. in Courtroom 1401,
U.S. Courthouse, 75 Ted Turner Drive, S.W., Atlanta, Georgia.
2024 Sidbury Development did not elect to proceed under Subchapter
V of Chapter 11 of the Bankruptcy Code when it filed its bankruptcy
petition. The Debtor has now amended the petition to elect to
proceed under Subchapter V. Bankruptcy Rule 1020(a) requires that a
debtor make the Subchapter V election in the voluntary petition.
The Court finds in the circumstances of this case, it is
appropriate to schedule a hearing to determine whether the Debtor
should be permitted to proceed under subchapter V.
A subchapter V debtor must file a plan within 90 days after the
filing of the plan except that the court may extend the period if
the need for the extension is attributable to circumstances for
which the debtor should not justly be held accountable. The plan
deadline will expire on August 31, 2026.
2024 Sidbury Development, LLC filed for Chapter 11 bankruptcy
protection (Bankr. N.D. Ga. Case No. 26-57308) on June 2, 2026. The
Debtor reported $500,001 and $1 million in both estimated assets
and liabilities.
218 7TH ST. SE: Case Summary & Two Unsecured Creditors
------------------------------------------------------
Debtor: 218 7th St. SE, LLC
218 7th St. SE
Washington, DC 20003
Business Description: 218 7th St. SE, LLC is a real estate company
that owns and leases a mixed-use commercial and residential
property in Washington, D.C.'s Capitol Hill neighborhood.
Chapter 11 Petition Date: August 4, 2026
Court: United States Bankruptcy Court
District of Columbia
Case No.: 26-00395
Judge: Hon. Elizabeth L Gunn
Debtor's Counsel: William C. Johnson, Jr., Esq.
THE JOHNSON LAW GROUP, LLC
6305 Ivy Lane
Suite 630
Greenbelt, MD 20770
Tel:(301) 477-3450
Email: William@JohnsonLG.Law
Total Assets: $4,354,896
Total Liabilities: $2,790,188
The petition was signed by Christopher Powell 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/AOUUK6I/218_7th_St_SE_LLC__dcbke-26-00395__0001.0.pdf?mcid=tGE4TAMA
2ND HEAVEN: Gets Another Extension to Use Cash Collateral
---------------------------------------------------------
2nd Heaven, LLC was granted another extension by the U.S.
Bankruptcy Court for the Northern District of New York to use cash
collateral to fund its operations.
The court entered a second interim order authorizing the Debtor to
use cash collateral in accordance with its operating budget until
the next hearing scheduled for October 6.
The Debtor was initially authorized to access its cash collateral
under the court's August 5 interim order.
A pre-petition UCC filing search indicates one secured creditor,
Itria Ventures, LLC, which filed a financing statement on February
14, 2025. Itria may claim a security interest in the Debtor's cash
on hand, bank accounts, and customer receivables.
Itria and other potential secured creditors will receive adequate
protection in the form of continuing rollover liens on their
collateral, maintaining the same lien priority they held before the
bankruptcy filing.
The order also preserves the rights of all parties. The Debtor
retains the right to challenge the validity, perfection, or
enforceability of any liens while secured creditors do not waive
any objections to the use of cash collateral.
A copy of the court's order and the Debtor's budget is available at
https://shorturl.at/jkpXA from PacerMonitor.com.
The next interim hearing is scheduled for October 6.
Founded in 2021, 2nd Heaven initially succeeded operating on the
Binghamton University campus through a subcontract with Sodexo.
However, an ill-fated attempt in 2024 to expand by acquiring Chroma
Café & Bakery generated severe working capital losses due to
lower-than-projected sales and unfulfilled representations by the
seller. Subsequent operational challenges in 2025, including campus
equipment failures, employee theft, and a payment dispute with
Sodexo that resulted in withheld remittances, triggered a critical
liquidity crisis that forced the bankruptcy filing to preserve
going-concern value.
About 2nd Heaven LLC
2nd Heaven, LLC sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. N.D.N.Y. Case No. 26-60668) on July 27,
2026. At the time of the filing, 2nd Heaven reported assets of up
to $50,000 and liabilities of between $100,001 and $500,000.
Judge Wendy A. Kinsella oversees the case.
Orville & McDonald Law, P.C. is the Debtor's bankruptcy counsel.
AAM EQUIPMENT: Unsecureds to Get Share of Income for 5 Years
------------------------------------------------------------
AAM Equipment, LLC filed with the U.S. Bankruptcy Court for the
Middle District of Alabama a Disclosure Statement for Plan of
Reorganization dated August 3, 2026.
The Debtor is an Alabama limited liability company founded by Aaron
Moody in 2021. The Debtor rents heavy equipment and machinery to
customers in Alabama and the southeastern United States.
The Debtor continues to operate its business and manage its
property as debtor in possession pursuant to Sections 1107(a) and
1108 of the Bankruptcy Code. The Debtor's cash position has
improved over the course of the Chapter 11 case as it has worked
out adequate protection agreements with certain creditors. The
Debtor is current in payments to employees, taxing authorities,
insurance providers, the Bankruptcy Administrator, and to Lenders
with adequate protection orders.
Class 13 consists of all Unsecured Claims. Under the Plan, Holders
of Allowed Class 13 Claims shall be paid their pro-rata share 30%
of the Debtor's Net Disposable Income for the lesser of (I)
receiving these Net Disposable Income amounts for five years; or
receiving 100% of their claim during the next five years.
The Debtor will make annual payments to Class 13 Allowed Claims
beginning one year from the effective date and will continue on the
same date each year thereafter for a total of five payments over
five years. This Class is impaired.
Class 14 consists of all Equity Interests held by the Holders of
Membership Interests. On the effective date, the pre-petition
Equity Interests shall be deemed cancelled and extinguished.
Thereafter, the Holders of Equity Interests shall receive equity in
the same percentages in the Reorganized Debtors in consideration
for (a) the contribution of $50,000.00 by Aaron Moody; and (b)
their postpetition contribution and continued contribution to the
operations of the Reorganized Debtor (collectively, the "New Value
Contribution").
The Plan shall be implemented on the effective date, and the
primary source of the funds necessary to implement the Plan
initially will be the Cash of the Reorganized Debtor. At the
present time, the Debtor believes that the Reorganized Debtor will
have sufficient funds, as of the effective date, to pay in full the
expected payments required under the Plan.
A full-text copy of the Disclosure Statement dated August 3, 2026
is available at https://urlcurt.com/u?l=PAyFm3 from
PacerMonitor.com at no charge.
AAM Equipment LLC is represented by:
Stuart H. Memory, Esq.
Memory Memory & Causby, LLP
P.O. Box 4054
Montgomery, AL 36103
Tel: (334) 834-8000
Email: smemory@memorylegal.com
About AAM Equipment LLC
AAM Equipment, LLC, is engaged in renting heavy construction
equipment.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. M.D. Ala. Case No. 26-80129) on Feb. 2,
2026. In the petition signed by Aaron Moody, owner, the Debtor
disclosed up to $50,000 in assets and up to $10 million in
liabilities.
Judge Christopher L. Hawkins oversees the case.
Stuart Memory, at Memory Memory and Causby LLP, is serving as the
Debtor's legal counsel.
ABOVE AND BEYOND: Gets Interim OK to Use Cash Collateral
--------------------------------------------------------
Above and Beyond Chiropractic Center, PLLC on Aug. 12 received
interim approval from the U.S. Bankruptcy Court for the Eastern
District of North Carolina, Raleigh Division, to use cash
collateral.
Under the interim order, the Debtor is authorized to use cash
collateral to fund its operations based on a court-approved budget.
The Debtor may make expenditures of up to 10% more than the
budgeted amount.
The Debtor's authority to use cash collateral will expire or
terminate upon cessation of its operations or non-compliance or
default of the Debtor with the terms of the order, whichever occurs
first.
At the time of the petition filing, the Debtor had $0 in bank
account balances and unencumbered personal property including
receivables, unencumbered inventory, equipment, furnishings, raw
materials, and finished goods valued at approximately $438. It has
opened a debtor-in-possession checking account into which all
pre-petition funds were transferred to maintain normal operations.
The Debtor's ongoing revenue collections and cash collateral are
subject to potential security interests held by five creditors
based on UCC-1 financing statements filed with the North Carolina
Secretary of State: Prove Partners, LLC, Rainbow Advance, LLC, Biz
Capital Miami, Inc., Honest Funding, LLC, and MCA Grid, LLC.
Secured creditors will receive adequate protection through a
post-petition lien on the Debtor's cash and inventory to the extent
that their pre-petition liens on the same type of collateral were
valid, perfected, enforceable, and non-avoidable as of the petition
date. In addition, Prove Partners will receive monthly payments of
$100, beginning Sept. 1.
The next hearing will be held on Sept. 15.
The order is available at
http://bankrupt.com/misc/AboveandBeyond_CCOrder23.pdf
About Above and Beyond Chiropractic Center PLLC
Above and Beyond Chiropractic Center, PLLC is a North Carolina
limited liability company established in 2015 that operates a
chiropractic treatment facility in Wake Forest, North Carolina.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D. N.C. Case No. 26-03542) on August 4,
2026. In the petition signed by Jennifer Al Ghuraibawi, member, the
Debtor disclosed up to $500,000 in assets and up to $1 million in
liabilities.
Judge Pamela W. McAfee oversees the case.
Danny Bradford, Esq., at Paul D. Bradford, PLLC, represents the
Debtor as legal counsel.
AL GCX FUND VIII: Moody's Alters Outlook on 'Ba3' CFR to Negative
-----------------------------------------------------------------
Moody's Ratings changed the rating outlook of AL GCX Fund VIII
Holdings, LLC (AL GCX Fund VIII) to negative from stable, and
concurrently assigned a Ba3 rating to the company's proposed $265
million senior secured term loan. Moody's also affirmed the
company's Ba3 corporate family rating, Ba3-PD probability of
default rating and the Ba3 rating on the existing senior secured
term loan.
Proceeds from the incremental term loan will be used to fund a
sponsor dividend and pay transaction-related fees. The incremental
term loan and the existing term loan will be fungible and treated
under the same credit agreement as a single facility, and the
company will amend pricing, sweep provisions and maturity date of
the upsized term loan.
"The negative outlook reflects a significant increase in debt
levels following the planned dividend recapitalization
transaction," said Sajjad Alam, Moody's Ratings senior vice
president.
RATINGS RATIONALE
The proposed debt-funded distribution to the sponsor will
materially weaken AL GCX Fund VIII's leverage and interest coverage
metrics. The transaction indicates a more aggressive financial
policy and reduced financial flexibility, as cash distributions
from the pipeline will need to service a larger amount of holding
company debt. The debt/EBITDA ratio will likely stay above 7x
through mid-2027 and this higher leverage coincides with the
continued shortening of the original shipper contract tenor (~3
years remaining), increasing the company's risk profile.
AL GCX Fund VIII's Ba3 CFR is underpinned by the highly predictable
cash flow generated by the Gulf Coast Express (GCX) pipeline, which
transports growing Permian Basin natural gas production to
higher-value Gulf Coast markets. The rating also reflects the
pipeline's 100% take-or-pay contracts, with a weighted average
remaining contract life of about five years, including contracts
supporting the expansion capacity; its high-quality and diversified
customer base; and shared ownership with Kinder Morgan, Inc. (Baa2
positive), a strategically aligned partner, key shipper and
experienced pipeline operator. The pipeline completed a significant
expansion in the second quarter of 2026 that increased capacity by
about ~25%. The added capacity is backed by 10-year take-or-pay
contracts with high-quality, investment-grade customers, extending
the company's overall contract tenor. Moody's expects the original
capacity to be re-contracted on favorable terms. The company also
benefits from strong governance rights through its 25% ownership
interest in GCX, including approval rights over key decisions
related to distribution policy, debt incurrence, growth capital
spending and amendments to the LLC agreement.
The credit profile is restrained by AL GCX Fund VIII's high
financial leverage, especially following the proposed
recapitalization, single asset concentration, relatively small
scale in terms of earnings and cash flow, and minority non-operated
ownership interest in GCX. Moody's expects leverage to improve
gradually mainly through the tightened excess cash flow (ECF) sweep
requirements outlined in the term loan agreement. Moody's
incorporated Moody's Minority Holding Companies Methodology as a
secondary methodology into Moody's analysis of AL GCX Fund VIII.
The company should be able to maintain adequate liquidity through
2027. The company uses its proportionate share of cash
distributions from GCX to fund its term loan interest and required
principal amortizations. The company does not have any revolving
credit facility, but it maintains a small cash balance to cover
day-to-day expenditures. As part of the proposed transaction, the
company will extend the term loan maturity to December 2032 and
reset the ECF sweep to 75% when proportionate consolidated leverage
exceeds 6x, 50% when leverage is greater than 5x but less than or
equal to 6x, and 0% when leverage is 5x or lower. Any remaining
cash after the required ECF sweep will likely be distributed to the
sponsor. The ECF sweep will commence at the end of first full
fiscal quarter ending December 31, 2026. Moody's expects the
company will hedge most of its floating rate interest rate
exposure. The Term Loan B is subject to a minimum debt service
coverage ratio covenant of 1.1x, which Moody's expects will be met
with solid cushion.
The term loan is rated Ba3, consistent with the Ba3 CFR, reflecting
its singular position in the company's capital structure. The term
loan is secured by all assets, including the borrower's existing
and future membership interests in the GCX pipeline, general
intangibles, hedging agreements (if any), and deposit and
securities accounts, including the available cash account.
FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS
A downgrade could occur if the company's debt/EBITDA remains above
7x or (FFO + Interest)/Interest remains below 2x. As the pipeline
approaches the expiration of its initial shipper contracts, a
downgrade could also occur if there are concerns for the prospects
of recontracting the pipeline at favorable rates and company debt
levels are not adjusted to maintain leverage at levels consistent
with the rating. Any additional debt-funded distribution could also
trigger a downgrade.
A rating upgrade could be considered if debt/EBITDA declines
towards 5x with FFO/debt sustained above 15% alongside a strong
contractual position. Moody's would also look for the company to
sustain the (FFO + Interest)/Interest above 3.5x and achieve its
planned cash flow goals before considering an upgrade.
AL GCX Fund VIII Holdings, LLC is an ArcLight backed holding
company that has a 25% non-operated ownership interest in the Gulf
Coast Express natural gas pipeline in Texas.
The principal methodology used in these ratings was Natural Gas
Pipelines published in April 2024.
ALKEGEN: Ad Hoc Lender Group Advised by Davis Polk on RSA
---------------------------------------------------------
Davis Polk is advising an ad hoc group of lenders in connection
with Alkegen's $3.5 billion chapter 11 filing in the U.S.
Bankruptcy Court for the Northern District of Texas. On July 19,
2026, members of the ad hoc group entered into a restructuring
support agreement in connection with the filing that is supported
by holders of approximately 99% of the debtors' more than $2
billion of first-lien debt and 80% of the debtors' nearly $1
billion of second-lien debt. Alkegen filed a straddle prepackaged
plan of reorganization that is expected to eliminate approximately
$3.1 billion of debt while leaving trade creditors unimpaired and
positioning the company to emerge as a healthier go-forward
enterprise.
Members of the ad hoc group have committed to provide a $630
million debtor-in-possession financing facility, consisting of $315
million of new money and a $315 million roll-up on a 1:1 basis. The
financing, which rolls into a $315 million exit facility in part
and is taken out by an equity rights offering in part, is intended
to fund the chapter 11 cases, repay the outstanding prepetition
revolving credit facility and support the debtors' operations
during the cases.
At the first-day hearing, Judge Scott Everett approved the interim
debtor-in-possession order and other first-day relief, including
the RCF repayment and interim roll-up. Alkegen's proposed plan of
reorganization provides for first-lien secured claims to receive
their pro rata share of $85 million of exit term loans and 100% of
the new equity interests, subject to dilution from an equity rights
offering backstopped by certain members of the ad hoc group, as
well as subscription rights to participate in the rights offering.
Holders of unsecured funded debt claims (including first-lien
deficiency claims, second-lien claims and stub debt from the
company's 2024 LME) receive their pro rata share of new equity
warrants and certain primary equity interests.
Alkegen is a specialty materials company, focusing on the
production of battery technologies, electric vehicles, filtration
media and specialty insulation materials aimed at enhancing energy
efficiency, safety and sustainability. The company operates over 60
facilities worldwide and employs around 9,000 people.
The Davis Polk restructuring team includes partners Damian S.
Schaible and Angela M. Libby, counsel Jarret Erickson and associate
Jacob Goldberger. The finance team includes partners Kenneth J.
Steinberg and David J. Kennedy and associate Adis Terzic. The
mergers and acquisitions team includes partner Lee Parnes and
counsel Jacob S. Kleinman. Counsel Brian Hecht is providing capital
markets advice. Partner Corey M. Goodman and counsel Yixuan Long
are providing tax advice. All members of the Davis Polk team are
based in the New York office.
Davis Polk refers to Davis Polk & Wardwell LLP, a New York limited
liability partnership, and its associated entities.
About ASP Unifrax Holdings Inc.
ASP Unifrax Holdings, Inc. operates as a holding company. The
Company, through its subsidiaries, offers ceramic fibers, heat
insulation, fire protection, emission control, and other related
chemical products.
ASP Unifrax Holdings and its affiliates sought protection under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Tex. Lead Case
No. 26-80008) on July 26, 2026.
Judge Scott W. Everett oversees the case.
The Debtors tapped Gray Reed and Kirkland & Ellis LLP and Kirkland
& Ellis International LLP as counsel. Kroll Restructuring
Administration LLC is the Debtors' claims, noticing, and
solicitation agent.
AMERICAN TOOL: Seeks to Extend Plan Exclusivity to Oct. 12
----------------------------------------------------------
American Tool & Mold Inc. and affiliates asked the U.S. Bankruptcy
Court for the Middle District of Florida to extend their
exclusivity periods to file a plan of reorganization and obtain
acceptance thereof to Oct. 12 and Dec. 12, 2026, respectively.
The Debtors explain that at the time the Court entered the Plan
Scheduling Order and set the Plan Target Date, Debtors had reported
they were 2 to 4 weeks away from a take-out of EverBank. By the
time EverBank and Debtors reached final agreement on the terms of
the EverBank Settlement, Debtors assessment of the time needed to
complete the take-out at a discounted payoff had evolved. Debtors
continue to be actively engaged in discussions over the necessary
funding for this transaction which based on its size and overall
importance will in great measure drive the terms of a chapter 11
plan.
The Debtors claim that the plan will involve not only resolution
with their senior secured creditor, but also with (a) two holders
of mortgages on a second building, (b) over a dozen equipment
lenders/lessors/financiers, and (c) taxing authorities; a solution
for over a dozen merchant cash advance ("MCA") parties; treatment
for general unsecured creditors; and recapitalization of the
business.
The Debtors state that arranging the funding for the $18,000,000
take-out will be the centerpiece of any plan. As EverBank
recognized in the negotiated settlement, and the Court likely
recognized in approving it, that by setting a deadline of August
22, 2026 to submit a letter of intent for the take-out and October
6, 2026 to close the take-out, it is not likely that Debtors would
have enough information by the August 14 Current Plan Target Date
to propose a meaningful plan or make meaningful disclosures about
it.
The Debtors assert that they intend to use the brief extension of
the Exclusive Periods, if granted, to narrow (if not eliminate)
potential objections to confirmation and poise the Debtors for an
orderly and expeditious confirmation process.
The Debtors further assert that the requested extension of
Exclusive Periods by this Motion is the first such extension
requested in these Chapter 11 Cases. The Debtors have been in
Chapter 11 for approximately two and one-half months and have
engaged in diligent, good faith efforts to advance this bankruptcy
case to maximize the return for the estate. Extending the Exclusive
Periods will benefit creditors by avoiding the drain on estate
assets attendant to a premature or competing chapter 11 plan.
Counsel to the Debtors:
Daniel A. DeMarco, Esq.
HAHN LOESER & PARKS LLP
200 Public Square, Suite 2800
Cleveland, Ohio 44114
Telephone: (216) 274-2432
Facsimile: (216) 274-2532
E-Mail: dademarco@hahnlaw.com
-and-
Stuart Jay Levine, Esq.
HAHN LOESER & PARKS LLP
601 Bayshore Boulevard, Suite 720
Tampa, Florida 33606
Telephone: (813) 254-7474
Facsimile: (813) 254-7341
E-Mail: sjlevine@hahnlaw.com
About American Tool & Mold Inc.
American Tool & Mold Inc. is a manufacturing company specializing
in precision tooling, mold design, and custom machining solutions
for industrial and commercial clients. The company provides
services related to tool-and-die production, injection molds, metal
fabrication, and engineered manufacturing components. American Tool
& Mold Inc. supports a range of industries, including automotive,
aerospace, consumer products, and industrial equipment
manufacturing.
American Tool & Mold Inc. sought relief under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-04159) on May
15, 2026. In its petition, the Debtor reports estimated assets and
liabilities between $1 million and $10 million each.
Bankruptcy Judge Luis Ernesto Rivera II, Esq. handles the case.
The Debtor is represented by Daniel A. DeMarco, Esq. of Hahn Loeser
& Parks, LLP.
EverBank, NA, as lender, is represented by:
J. Ellsworth Summers, Jr., Esq.
Dana L. Robbins-Boehner, Esq.
Marc A. Sendra, Esq.
BURR & FORMAN LLP
50 N Laura Street, Suite 3000
Jacksonville, Florida 32202
Telephone: (904) 232-7200
Facsimile: (904) 232-7201
Email: esummers@burr.com
drobbins-boehner@burr.com
msendra@burr.com
AND GO CONCEPTS: Case Summary & 30 Largest Unsecured Creditors
--------------------------------------------------------------
Lead Debtor: And Go Concepts, LLC
909 E. Broadway Road
Tempe, AZ 85282
Business Description: And Go Concepts, LLC and its debtor
affiliates operate Salad and Go, a Tempe, Arizona-based
quick-service, drive-through restaurant chain founded in Gilbert,
Arizona, in 2013 that offers salads, wraps, soups, breakfast
burritos and bowls, lemonades, teas and other beverages at about 70
locations across Arizona and Nevada. The group uses
small-footprint, drive-through-only restaurants supplied by central
kitchen and food-production facilities, while And Go Concepts
serves as its primary operating entity, AGC-Arizona Facilities
holds employees, agreements and other assets or obligations
associated with the Phoenix-area central kitchen, AGC-North Texas
Facilities historically handled the Texas and Oklahoma supply
chain, Garland New Market is a special-purpose financing entity for
the Garland, Texas, production facility, and SAG Corporate Services
is a wholly owned subsidiary of And Go Concepts.
Chapter 11 Petition Date: Aug. 4 and 5, 2026
Court: United States Bankruptcy Court
Southern District of Texas
Five affiliates that filed voluntary petitions for relief under
Chapter 11 of the Bankruptcy Code on August 4, 2026:
Debtor Case No.
------ --------
And Go Concepts, LLC (Lead Case) 26-90753
SAG Corporate Services LLC 26-90752
AGC-Arizona Facilities, LLC 26-90754
AGC-North Texas Facilities, LLC 26-90755
Garland New Market LLC 26-90756
Two additional affiliates that filed voluntary petitions for relief
under Chapter 11 on August 5, 2026:
Debtor Case No.
------ --------
AGC Topco, LLC 26-90757
AGC Holdco, LLC 26-90758
Judge: Hon. Alfredo R. Perez
Debtors'
General
Bankruptcy
Counsel: Omar J. Alaniz, Esq.
Dylan T.F. Ross, Esq.
Haley B. Bray, Esq.
REED SMITH LLP
2850 N. Harwood Street, Suite 1500
Dallas, TX 75201
Tel: 469-680-4200
Fax: 469-680-4299
Email: oalaniz@reedsmith.com
dylan.ross@reedsmith.com
hbray@reedsmith.com
AND
Amalia Sax-Bolder, Esq.
REED SMITH LLP
1900 Lawrence Street, Suite 2800
Denver, CO 80202
Tel: 303-552-3800
Fax: 303-552-3799
Email: asaxbolder@reedsmith.com
Financial
Adviser: STOUT RISIUS ROSS, LLC
Debtors'
Claims, Noticing
and Solicitation
Agent: KROLL RESTRUCTURING ADMINISTRATION LLC
Estimated Assets: $500,000,001 to $1,000,000,000
Estimated Liabilities: $500,000,001 to $1,000,000,000
The petitions were signed by Douglas Brickley as chief
restructuring officer.
A full-text copy of the Lead Debtor's petition is available for
free on PacerMonitor at:
https://www.pacermonitor.com/view/GMMZJ6A/And_Go_Concepts_LLC__txsbke-26-90753__0001.0.pdf?mcid=tGE4TAMA
Consolidated List of Debtors' 30 Largest Unsecured Creditors:
Entity Nature of Claim Claim Amount
1. Performance Food Group Inc Trade Debts $3,498,456
455 South 75th Avenue
Phoenix, AZ 85043
2. Howerter, Taylor Litigation $743,375
Address on File
3. Arizona Department of Revenue Taxes $725,634
PO Box 29032
Phoenix, AZ 85038-9032
4. Brinks Capital Trade Debts $242,649
1801 Bayberry Court
Richmond, VA 23226
5. The Loomis Corporation Trade Debts $225,979
17120 Dallas Pkwy Ste 200
Dallas, TX 75248
6. Engie Insight Services, Inc. Utilities $214,854
1313 N. Atlantic St. Ste 5000
Spokane, WA 99201
7. Cool Werx Trade Debts $214,364
PO Box #10819
Glendale, AZ 85318
8. Scout JV I Perishable Holdings Lease Obligations $168,770
LLC
2001 Ross Ave
Dallas, TX 75201
9. 625 South 27th Ave, LLC Lease Obligations $92,927
172 South Broadway
White Plains, NY 10605
Tel: (914) 588-3378
10. Billingsley Property Services Lease Obligations $71,077
II, Inc.
1722 Routh Street Suite 770
Dallas, TX 75201
Tel: (214) 270-1000
11. Lockton Insurance Brokers LLC Professional Services $68,512
PO Box 802707
Kansas City, MO 64180
12. Olo Inc. Trade Debts $67,513
Two Manhattan West
375 Ninth Avenue
Unit 1210
New York, NY 10001
13. NCR-HSR Div Trade Debts $62,751
PO Box 198755
Atlanta, GA 30384
14. Nevada Department of Taxation Taxes $53,714
Attn Commerce Tax Remittance
PO Box 51180
Los Angeles, CA 90051-5480
15. Colorado Mills, LLC Trade Debts $53,360
PO Box 1155
Lamar, CO 81052
16. Roland Foods, LLC Trade Debts $52,750
70 West 23rd Street
New York, NY 10010
17. Abart Properties Corporation Lease Obligations $50,383
14614 N. Kierland Blvd, Ste 340
Scottsdale, AZ 85254
18. SHI International Corp Trade Debts $48,853
290 Davidson Avenue
Somerset, NJ 8873
19. Patagonia Food Group, LLC Trade Debts $47,493
6090 White Oak Ln
San Luis Obispo, CA 93401
20. Portier, LLC Trade Debts $44,586
1725 3rd Street
San Francisco, CA 94158
21. QAD Inc Trade Debts $42,682
1221 Brickell Ave
Ste 2110
Miami, FL 33131
22. Microsoft Corporation Trade Debts $36,811
One Microsoft Way
Redmond, WA 98052-6399
23. Vestis Services LLC Trade Debts $33,658
PO Box 731676
Dallas, TX 75373
24. Lang Family Management Lease Obligations $33,373
Company LLC
3696 North Federal Highway, Suite 203
Fort Lauderdale, FL 33308
25. Alchemy Systems LP Trade Debts $30,009
5301 Riata Park
Austin, TX 78727
26. American Solutions Trade Debts $28,949
For Business
8479 Solution Center
Chicago, IL 60677-8004
27. Southwest General Development Lease Obligations $28,358
LLC
10229 N. Scottsdale Rd Suite F
Scottsdale, AZ 85253
Contact: Louis Joyce Guimet
28. Liberty Alarm Company Trade Debts $24,862
2552 E Encinas Ave
Gilbert, AZ 85234
29. Coda Coffee Company Trade Debts $22,560
1751 E 58th Ave, Ste B-3
Denver, CO 80209
30. Service Management Group, LLC Trade Debts $22,540
770 Market St
Farmington, MO 63640
APEX CREDIT: OFS Capital Marks $11.1MM Notes at 68% Off
-------------------------------------------------------
OFS Capital Corp has marked its $11.1 million subordinated notes
investment in Apex Credit CLO 2020 Ltd. to market at $3.5 million
or 32% of the outstanding amount, according to OFS Capital's Form
10-Q for the fiscal quarter ended July 31, 2026, filed with the
U.S. Securities and Exchange Commission.
OFS Capital is a participant in subordinated notes issued by Apex
Credit CLO 2020 Ltd. The subordinated notes accrue interest at
5.31% per annum and mature on April 20, 2035.
OFS Capital Corp is a business development company that provides
debt and equity financing solutions to middle-market companies in
the United States.
The Fund is led by Bilal Rashid as Chief Executive Officer.
The Fund can be reached at:
Bilal Rashid
OFS Capital Corp
222 W. Adams Street, Suite 1850
Chicago, IL 60606
Telephone: (847) 734-2000
About Apex Credit CLO 2020 Ltd.
Apex Credit CLO 2020 Ltd. is a Delaware limited liability company
is a private, perpetually offered, externally managed,
non-diversified funds.
APEX CREDIT: OFS Capital Marks $17.1MM Sub Notes at 70% Off
-----------------------------------------------------------
OFS Capital Corp has marked its $17.1 million subordinated notes
investment in Apex Credit CLO 2022-1 Ltd. to market at $5.0
million, or 30% of the outstanding amount, according to OFS
Capital's 10-Q for the fiscal quarter ended July 31, 2026, filed
with the U.S. Securities and Exchange Commission.
OFS Capital is a participant in a subordinated notes investment
issued by Apex Credit CLO 2022-1 Ltd. The Subordinated Notes accrue
interest at 13.93% per annum. The Subordinated Notes mature on
October 22, 2038.
OFS Capital Corp is a business development company that provides
debt and equity financing solutions to middle-market companies in
the United States.
The Fund is led by Bilal Rashid as Chief Executive Officer.
The Fund can be reached at:
Bilal Rashid
OFS Capital Corp
222 W. Adams Street, Suite 1850
Chicago, IL 60606
Telephone: (847) 734-2000
About Apex Credit CLO 2022-1 Ltd.
Apex Credit CLO 2022-1 Ltd. is a fixed income investment manager
specializing in leveraged loans and collateralized loan
obligations.
APEX CREDIT: OFS Capital Marks $8.6MM Notes at 87% Off
------------------------------------------------------
OFS Capital Corp has marked its $8.6 million subordinated notes
investment in Apex Credit CLO 2021 Ltd. to market at $1.1 million,
or 13% of the outstanding amount, according to OFS Capital's Form
10-Q for the fiscal quarter ended July 31, 2026, filed with the
U.S. Securities and Exchange Commission.
OFS Capital is a participant in a subordinated notes investment in
Apex Credit CLO 2021 Ltd. The Subordinated Notes accrue interest at
0.00% per annum and mature on July 18, 2034.
OFS Capital Corp is a business development company that provides
debt and equity financing solutions to middle-market companies in
the United States.
The Fund is led by Bilal Rashid as Chief Executive Officer.
The Fund can be reached at:
Bilal Rashid
OFS Capital Corp
222 W. Adams Street, Suite 1850
Chicago, IL 60606
Telephone: (847) 734-2000
About Apex Credit CLO 2021 Ltd.
Apex Credit CLO 2020 Ltd. is a Delaware limited liability company
is a private, perpetually offered, externally managed,
non-diversified funds.
APEX DISASTER: Bacik Wins Summary Judgment in Adversary Case
------------------------------------------------------------
Judge John W. Kolwe of the U.S. Bankruptcy Court for the Western
District of Louisiana will grant summary judgment in favor of Bacik
Group, LLC on the piercing the veil claim in the adversary
proceeding captioned as BACIK GROUP, LLC Plaintiff VERSUS APEX
DISASTER SPECIALISTS LOUISIANA, LLC, et al., Defendants, ADVERSARY
PROCEEDING NO. 24-2009 (Bankr. W.D. La.).
This is an action by Bacik Group, LLC ("Bacik" or "Plaintiff")
seeking to pierce the veil of the Debtor, Apex Disaster Specialists
Louisiana, LLC ("Apex" or "Debtor"), to hold the alleged owners of
the Debtor, Jennifer Rulon ("Ms. Rulon") and her husband, Ray
Wright ("Mr. Wright"), liable for the Debtor's debt to Bacik.
Following Hurricane Laura in 2020, Apex and Bacik executed a Master
Subcontract Agreement ("Agreement") which provided that Bacik, as
subcontractor, would engage in disaster remediation services for
Apex's clients. Under the Agreement, Bacik was to be paid 70% of
the total amount that Apex billed its clients. After Apex received
payment from all the homeowners and insurance carriers for which
Bacik provided services, Apex refused to pay Bacik. Thus, in 2021,
Bacik filed suit in the United States District Court for the
Western District of Louisiana for collection of the amounts due.
The District Court granted summary judgment in favor of Bacik and
entered two judgments. The first was entered on February 1, 2023,
in the amount of $200,700.75, representing the total amount owed to
Bacik by Apex. The second was entered on May 9, 2023, in the amount
of $60,210.23, representing Bacik's attorney fees and costs, which
it was entitled to recover under Louisiana law. Apex did not appeal
either judgment. The District Court explained its reasons for
granting judgment in Bacik Grp. LLC v. Apex Disaster Specialists
Louisiana LLC, No. 2:21-CV-00447, 2023 WL 1460537 (W.D. La. Feb. 1,
2023).
Bacik made attempts to collect the judgments, including conducting
a judgment debtor exam of Apex on December 12, 2023. Although Mr.
Wright appeared at the exam on behalf of Apex, he did not bring any
of the requested accounting and bank records of Apex. Thus, the
exam was held open and continued to a later date. Before the
judgment debtor exam could be completed, Apex filed a Chapter 11,
Subchapter V proceeding in this court on April 14, 2024. That case
did not progress smoothly, primarily due to the Debtor's failure to
file accurate monthly operating reports, and other violations of
basic bankruptcy rules. Thus, on November 6, 2024, the United
States Trustee ("UST") filed a motion to convert Apex's case to
Chapter 7.
At the hearing on this motion, the UST established that in the
three months prior to Apex's bankruptcy filing, Ms. Rulon
transferred large sums out of Apex's bank account to an account
maintained and owned by her. It was also established that Ms.
Rulon's pre-petition practice of indiscriminately transferring
money out of Apex into accounts in her individual name had
continued during the bankruptcy case. Additionally, the evidence
showed that the Debtor had not adhered to any formal company
accounting practices to distinguish between the company's finances
and Ms. Rulon's personal finances. The Court also found that Ms.
Rulon had generally flouted all bankruptcy and accounting rules
resulting in material misstatements of the assets, income, and
expenses of the bankruptcy estate. Thus, the Court granted the
UST's motion and on February 6, 2025, entered an order converting
Apex's bankruptcy case to Chapter 7.
On June 13, 2024, Bacik initiated this adversary proceeding to
pierce the corporate veil and pursue collection of Apex's debt to
Bacik from the Debtor's alleged principals, Ms. Rulon and Mr.
Wright.
The Defendants' primary defense to this action is purely legal.
They contend that the company veil of Apex cannot be pierced under
La. R.S. Sec. 12:1320 and the Louisiana Supreme Court decision in
Ogea v. Merritt, supra, because it is an LLC rather than a
corporation.
The Court agrees and finds that the numerous transfers between
Apex, Ms. Rulon's personal accounts, and the accounts held in the
name of other entities appear fraudulent as they appear calculated
to hinder Bacik's ability to collect its judgments. Thus, in the
Court's view, these transfers back and forth support piercing the
veil of Apex to hold Ms. Rulon personally liable for Bacik's
judgments.
The Court finds that the indiscriminate transfers and complete
disregard for corporate accounting formalities demonstrate that Ms.
Rulon treated Apex as a personal piggy bank. Moreover, these
transactions, combined with the numerous transfers outlined above,
show that the finances of Apex are indistinguishable from those of
Ms. Rulon and her other entities. Based on the totality of all
these factors, the Court will enter a judgment in favor of Bacik on
its piercing the veil claim. However, since Mr. Wright is not a
member, owner, manager, or officer of Apex, Bacik has not
established grounds to hold Mr. Wright liable under a piercing the
veil claim. Moreover, Bacik has not shown that Mr. Wright is liable
to Bacik under La. R.S. Se. 12:1320(D). Therefore, the Court will
grant judgment in favor of Mr. Wright, dismissing Bacik's claims
against him.
A copy of the Court's Memorandum Opinion dated July 24, 2026, is
available at https://urlcurt.com/u?l=NWkEQa from Pacermonitor.com.
About Apex Disaster Specialists Louisiana, LLC
Apex Disaster Specialists Louisiana, LLC was formed on October 1,
2019, and is domiciled in Sulphur, Calcasieu Parish, Louisiana, as
a disaster mitigation company.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. W.D. La. Case No. 24-20176) on April 15,
2024, listing under $1 million in both assets and liabilities.
Judge John W. Kolwe oversees the case.
Wade N. Kelly, Esq., is the Debtor's bankruptcy counsel.
The case was converted to Chapter 7 on November 6, 2024.
APPLE ROOFING: Capital Southwest Marks $14.2MM 1L at 33% Off
------------------------------------------------------------
Capital Southwest Corp. has marked its $14.2 million first lien
Term Loan B to Apple Roofing Administrative Services LLC (fka Roof
Opco LLC) to market at $9.6 million or 67% of the outstanding
amount, according to Capital Southwest's 10-Q for the fiscal
quarter ended Aug. 3, 2026, filed with the U.S. Securities and
Exchange Commission.
Capital Southwest is a participant in a loan extended to Apple
Roofing Administrative Services LLC (fka Roof Opco LLC). The first
lien Term Loan B accrues interest at 10.00% per annum. The first
lien Term Loan B matures on Aug. 31, 2029.
Capital Southwest Corp. is a business development company that
provides financing solutions to middle-market businesses.
The Fund is led by Michael S. Sarner as President and Chief
Executive Officer.
The Fund can be reached at:
Michael S. Sarner
Capital Southwest Corp.
8333 Douglas Avenue, Suite 1100
Dallas, TX 75225
Telephone: (214) 238-5700
About Apple Roofing Administrative Services LLC (fka
Roof Opco LLC)
Apple Roofing is a licensed, insured roofing contractor
specializing in roof replacement and repair for homeowners.
APPLE ROOFING: Capital Southwest Marks $14.6MM 1L Loan at 32% Off
-----------------------------------------------------------------
Capital Southwest Corp. has marked its $14.6 million First Lien -
Term Loan B to Apple Roofing Administrative Services LLC to market
at $9.9 million or 68% of the outstanding amount, according to
Capital Southwest's 10-Q for the fiscal quarter ended August 3,
2026, filed with the U.S. Securities and Exchange Commission.
Capital Southwest is a participant in a loan extended to Apple
Roofing Administrative Services LLC. The First Lien - Term Loan B
accrues interest at 10.00% per annum. The First Lien - Term Loan B
matures on August 31, 2029.
Capital Southwest Corp. is a business development company that
provides financing solutions to middle-market businesses.
The Fund is led by Michael S. Sarner as President and Chief
Executive Officer.
The Fund can be reached at:
Michael S. Sarner
Capital Southwest Corp.
8333 Douglas Avenue, Suite 1100
Dallas, TX 75225
Telephone: (214) 238-5700
About Apple Roofing Administrative Services LLC
Apple Roofing Administrative Services LLC, founded in 2011, is a
Lincoln, Nebraska based roofing restoration company serving
residential and commercial customers in Nebraska, Missouri, Iowa,
and Arizona.
ARBUCKLE MEMORIAL HOSPITAL: Moody's Assigns 'Ba1' Issuer Rating
---------------------------------------------------------------
Moody's Ratings has assigned a Ba1 issuer rating to Arbuckle
Memorial Hospital Authority (OK) and downgraded the Authority's
sales tax bond rating to Baa1 from A3. The outlook is stable. The
Authority had approximately $12 million of outstanding debt at
fiscal year-end 2025.
The sales tax rating downgrade to Baa1 concludes a review for
possible downgrade that was initiated on May 28, 2026 and reflects
the application of the updated Not-for-profit Healthcare
methodology.
RATINGS RATIONALE
The assignment of the Ba1 issuer rating reflects Arbuckle Memorial
Hospital Authority's consistently strong EBIDA margins, supported
by solid annual revenue growth of 5%-10%. Liquidity has improved
meaningfully over many years, with cash on hand close to 400 days.
Together with steady debt reduction, this has lifted
cash-to-adjusted debt to a strong 200%, more than double the level
reported five years ago. These strengths are balanced by the
hospital's small scale and rural location, which increase exposure
to volume volatility and workforce pressures. The rating also
incorporates the hospital's elevated dependence on Medicare and
Medicaid reimbursement, including relatively high Medicaid
supplemental funding, leaving it vulnerable to rate and policy
changes. Limited near-term capital needs and no planned additional
debt will help preserve financial flexibility amid ongoing
reimbursement uncertainty.
The Baa1 sales tax rating reflects a very broad and growing pledge
of revenues from a 1% sales tax levied within Murray County,
Oklahoma. Moody's assessments of the economy is A, characterized by
a limited rural economy with stagnant population trends that is
heavily reliant on tribal enterprises and tourism.
RATING OUTLOOK
The stable outlook reflects a continuation of double digit EBIDA
margins and maintenance of current balance sheet metrics.
FACTORS THAT COULD LEAD TO AN UPGRADE OF THE RATINGS
-- Growth in cash-adjusted debt to over 300%
-- Significant taxable value growth along with improved economic
indicators
FACTORS THAT COULD LEAD TO A DOWNGRADE OF THE RATINGS
-- Negative EBIDA
-- Materially weaker liquidity with days cash dropping below 200
days
-- Significant revenue contraction without sufficient tax levy to
offset revenue declines to cover debt
PROFILE
The Arbuckle Memorial Hospital Authority was created as a public
trust and formed by Murray County, the beneficiary of the trust.
The Authority's board is appointed by the county commissioners and
the Authority is a component unit of the County. The hospital is a
critical access hospital located in Sulphur, Oklahoma.
METHODOLOGY
The principal methodology used in these ratings was Not-for-profit
Healthcare published in May 2026.
ARCHER MOTORSPORTS: Gets Final OK to Use Cash Collateral
--------------------------------------------------------
The U.S. Bankruptcy Court for the District of Arizona granted
Archer Motorsports, Inc. final approval to use cash collateral.
Under the final order, the Debtor is authorized to use cash,
including cash collateral, to pay ordinary and necessary
post-petition operating expenses in accordance with the approved
operating budget, subject to a 10% variance. Unless further
extended by the court, the Debtor's authority to use cash
collateral will remain in effect through October 31.
The secured creditors with interests in the cash collateral include
Haro Bicycle Corporation, Cycling Sports Group, Inc., Specialized
Bicycle Components, Inc., JPMorgan Chase Bank, N.A., Giant Bicycle
Inc., and Gazelle USA, LLC, with JPMorgan Chase Bank retaining a
first-priority interest in the Debtor's encumbered deposit account
up to its petition-date value.
To protect secured creditors, the court granted them replacement
liens on the Debtor's post-petition property, preserving the same
extent, validity, and priority they held on the bankruptcy petition
date. If those replacement liens do not fully compensate for any
decline in the value of the creditors' collateral, the creditors
will receive additional perfected liens on the Debtor's
post-petition cash and deposit accounts.
A copy of the court's order and the Debtor's budget is available at
https://shorturl.at/tR1qS from PacerMonitor.com.
About Archer Motorsports Inc.
Archer Motorsports, Inc is an Arizona-based bicycle and e-bike
retailer.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Ariz. Case No. 26-04217) on April 29,
2026. In the petition signed by Randolph Archer, president, the
Debtor disclosed up to $500,000 in assets and up to $10 million in
liabilities.
Judge Madeleine C. Wanslee oversees the case.
Anthony Cali, Esq., at Allen, Jones & Giles, PLC, represents the
Debtor as legal counsel.
ASSETS4LIFE LLC: Case Summary & Five Unsecured Creditors
--------------------------------------------------------
Debtor: Assets4Life, LLC
134 Ellis Ave.
Irvington, NJ 07111
Business Description: Assets4Life, LLC is a residential real estate
company based in Irvington, New Jersey.
Chapter 11 Petition Date: August 4, 2026
Court: United States Bankruptcy Court
District of New Jersey
Case No.: 26-18824
Debtor's Counsel: Lawrence Luttrell, Esq.
LAW OFFICE OF LAWRENCE W. LUTTRELL, P.C.
2137 State Route 35 3rd Floor
Holmdel NJ 07733
Tel: (732) 872-6900
E-mail: larry@lwlpc.com
Estimated Assets: $1 million to $10 million
Estimated Liabilities: $500,000 to $1 million
The petition was signed by Mohamed Hassanain as managing member.
A copy of the Debtor's list of its five unsecured creditors is
available for free on PacerMonitor at:
https://www.pacermonitor.com/view/FQQHIDA/Assets4Life_LLC__njbke-26-18824__0001.1.pdf?mcid=tGE4TAMA
A full-text copy of the petition is available for free on
PacerMonitor at:
https://www.pacermonitor.com/view/FWDML6I/Assets4Life_LLC__njbke-26-18824__0001.0.pdf?mcid=tGE4TAMA
AT&T INC: Lord Abbett Marks $25MM Bond at 34% Off
-------------------------------------------------
Lord Abbett Investment Trust has marked its $25 million bond
investment in AT&T, Inc. to market at $16,544,600 or 66% of the
outstanding amount, according to Lord Abbett's N-CSRS for the
fiscal quarter ended August 3, 2026, filed with the U.S. Securities
and Exchange Commission.
Lord Abbett is a participant in a bond investment in AT&T, Inc. The
bond accrues interest at 3.50% per annum. The bond matures on
September 15, 2053.
Lord Abbett Investment Trust is a registered management investment
company.
The Fund is led by Douglas B. Sieg as President and Chief Executive
Officer.
The Fund can be reached at:
Douglas B. Sieg
Lord Abbett Investment Trust
30 Hudson Street
Jersey City, NJ 07302-4804
Telephone: (888) 522-2388
About AT&T, Inc.
AT&T, Inc. is an American multinational telecommunications company
headquartered in Dallas, Texas.
AUSTISM CENTERS: James Bailey Named Subchapter V Trustee
--------------------------------------------------------
The Acting U.S. Trustee for Region 8 appointed James Bailey III of
Butler Snow LLP as Subchapter V trustee for Autism Centers of
Tennessee PLLC.
Mr. Bailey will be paid an hourly fee of $650 for his services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.
Mr. Bailey declared that he is a disinterested person according to
Section 101(14) of the Bankruptcy Code.
The Subchapter V trustee can be reached at:
James E. Bailey III
Butler Snow LLP
6075 Poplar Avenue, Suite 500
Memphis, TN 38119
Phone: (901) 680-7347
Email: Jeb.Bailey@butlersnow.com
About Autism Centers of Tennessee PLLC
Autism Centers of Tennessee, PLLC is a Tennessee entity operating a
facility and a pre-K through 5th-grade private school.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. W.D. Tenn. Case No. 26-24118) on July 31,
2026. In the petition signed by J. Morgan Adair, business director,
the Debtor disclosed up to $1 million in assets and up to $10
million in liabilities.
Judge Denise E. Barnett oversees the case.
Michael P. Coury, Esq., at Glankler Brown, PLLC, represents the
Debtor as legal counsel.
AVISON YOUNG: OFS Capital Marks $329,000 1L Debt at 24% Off
-----------------------------------------------------------
OFS Capital Corp has marked its $329,000 first lien debt to Avison
Young Inc. to market at $249,000 or 76% of the outstanding amount,
according to OFS Capital's Form 10-Q for the fiscal quarter ended
July 31, 2026, filed with the U.S. Securities and Exchange
Commission.
OFS Capital is a participant in a loan extended to Avison Young
Inc. The first lien debt accrues interest at 5.60% cash / 6.50% PIK
per annum and matures on March 12, 2029.
OFS Capital Corp is a business development company that provides
debt and equity financing solutions to middle-market companies in
the United States.
The Fund is led by Bilal Rashid as Chief Executive Officer.
The Fund can be reached at:
Bilal Rashid
OFS Capital Corp
222 W. Adams Street, Suite 1850
Chicago, IL 60606
Telephone: (847) 734-2000
About Avison Young Inc.
Avison Young (USA) Inc. provides real estate services. The Company
offers tenant representation, agency leasing, asset and property
management, project management, capital markets and development
services. Avision Young (USA) serves offices, industrial, retail,
multi-family, hospitality, healthcare, and other clients
worldwide.
B & G TOTAL: Richardo Kilpatrick Named Subchapter V Trustee
-----------------------------------------------------------
The U.S. Trustee for Regions 3 and 9 appointed Richardo Kilpatrick,
Esq., at Kilpatrick & Associates, P.C. as Subchapter V trustee for
B & G Total House Care, LLC.
Mr. Kilpatrick will be paid an hourly fee of $375 for his services
as Subchapter V trustee and will be reimbursed for work-related
expenses incurred.
Mr. Kilpatrick declared that he is a disinterested person according
to Section 101(14) of the Bankruptcy Code.
The Subchapter V trustee can be reached at:
Richardo I. Kilpatrick, Esq.
Kilpatrick & Associates, P.C.
903 N. Opdyke Rd., Ste. C.
Auburn Hills, MI 48326
Phone: (248) 377-0700
Fax: (248) 377-0800
Email: rkilpatrick@kaalaw.com
About B & G Total House Care LLC
B & G Total House Care, LLC filed a petition under Chapter 11,
Subchapter V of the Bankruptcy Code (Bankr. E.D. Mich. Case No.
26-31771) on August 3, 2026, with $50,001 to $100,000 in assets and
$500,001 to $1 million in liabilities.
Judge Joel D. Applebaum presides over the case.
Peter T. Mooney, Esq., at Simen, Figura & Parker represents the
Debtor as legal counsel.
B & G TOTAL: Seeks Cash Collateral Access
-----------------------------------------
B & G Total House Care, L.L.C. asks the U.S. Bankruptcy Court for
the Eastern District of Michigan for authority to use cash
collateral and provide adequate protection.
The Debtor needs to utilize cash collateral to maintain ongoing
operations, pay ordinary business expenses, and preserve its
going-concern value.
The Debtor's total asset base is estimated at $90,000, consisting
of two vans valued at $30,000, franchise rights valued at $47,000,
bank account funds of $10,000, and accounts receivable of $3,000.
Based on UCC-1 search records, two secured creditors assert
encumbrances against the Debtor's cash collateral: United Midwest
Savings Bank, with an estimated claim of $150,000, and NewTek Bank,
National Association, with an estimated claim of $240,000.
To provide adequate protection, the Debtor offers to grant United
Midwest and NewTek post-petition replacement liens on post-petition
cash collateral to the same extent, validity, and priority as their
pre-petition security interests.
Supported by a declaration and budget from principal Robert Kniss,
the Debtor reports average historical monthly revenues of $44,014
against expenses of $39,930 for the first seven months of 2026.
Because monthly costs for materials and wages fluctuate alongside
revenue, the Debtor requests spending authority of up to $60,000
per month. The Debtor also commits to paying all post-petition
taxes to prevent priming liens and agrees not to dispose of assets
outside the ordinary course of business without court approval.
A court hearing is scheduled for August 19.
A copy of the motion is available at https://urlcurt.com/u?l=XqoIfl
from PacerMonitor.com.
About B & G Total House Care L.L.C.
B & G Total House Care, L.L.C. is a property maintenance and
handyman business in Grand Blanc, Michigan, as a franchisee of Tru
Blue Total House Care.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D. Mich. Case No. 26-31771-jda) on August
3, 2026. In the petition signed by Robert Kniss, member, the Debtor
disclosed up to $100,000 in assets and up to $1 million in
liabilities.
Judge Joel D. Applebaum oversees the case.
Peter T. Mooney, Esq., at Simen, Figura & Parker, PLC, represents
the Debtor as legal counsel.
BAYMARK HEALTH: OFS Capital Virtually Writes Off $4.96MM 2L Debt
----------------------------------------------------------------
OFS Capital Corp has marked its $4.962 million second lien debt to
BayMark Health Services, Inc. to market at $29,000 or 1% of the
outstanding amount, according to OFS Capital's Form 10-Q for the
fiscal quarter ended July 31, 2026, filed with the U.S. Securities
and Exchange Commission.
OFS Capital is a participant in a loan extended to BayMark Health
Services, Inc. The Second Lien Debt accrues interest at 14.49% per
annum. The Second Lien Debt matures on June 11, 2028.
OFS Capital Corp is a business development company that provides
debt and equity financing solutions to middle-market companies in
the United States.
The Fund is led by Bilal Rashid as Chief Executive Officer.
The Fund can be reached at:
Bilal Rashid
OFS Capital Corp
222 W. Adams Street, Suite 1850
Chicago, IL 60606
Telephone: (847) 734-2000
About BayMark Health Services, Inc.
BayMark Health Services, Inc. provides healthcare services focused
on addiction treatment and recovery.
BAYMARK HEALTH: OFS Capital Virtually Writes Off $4MM 2L Debt
-------------------------------------------------------------
OFS Capital Corp has marked its $4.0 million second lien debt
BayMark Health Services, Inc. to market at $22,000 or 1% of the
outstanding amount, according to OFS Capital's Form 10-Q for the
fiscal quarter ended July 31, 2026, filed with the U.S. Securities
and Exchange Commission.
OFS Capital is a participant in a loan extended to BayMark Health
Services, Inc. The Second Lien Debt accrues interest at 14.49% per
annum. The Second Lien Debt matures on June 11, 2028.
OFS Capital Corp is a business development company that provides
debt and equity financing solutions to middle-market companies in
the United States.
The Fund is led by Bilal Rashid as Chief Executive Officer.
The Fund can be reached at:
Bilal Rashid
OFS Capital Corp
222 W. Adams Street, Suite 1850
Chicago, IL 60606
Telephone: (847) 734-2000
About BayMark Health Services, Inc.
BayMark Health Services, Inc. provides healthcare services focused
on addiction treatment and recovery.
BAYMARK HEALTH: OFS Capital Virtually Writes Off $5MM 2L Debt
-------------------------------------------------------------
OFS Capital Corp has marked its $5.0 million second lien debt
BayMark Health Services, Inc. to market at $248,000 or 5% of the
outstanding amount, according to OFS Capital's Form 10-Q for the
fiscal quarter ended July 31, 2026, filed with the U.S. Securities
and Exchange Commission.
OFS Capital is a participant in a loan extended to BayMark Health
Services, Inc. The Second Lien Debt accrues interest at 14.43% per
annum. The Second Lien Debt matures on June 11, 2028.
OFS Capital Corp is a business development company that provides
debt and equity financing solutions to middle-market companies in
the United States.
The Fund is led by Bilal Rashid as Chief Executive Officer.
The Fund can be reached at:
Bilal Rashid
OFS Capital Corp
222 W. Adams Street, Suite 1850
Chicago, IL 60606
Telephone: (847) 734-2000
About BayMark Health Services, Inc.
BayMark Health Services, Inc. provides healthcare services focused
on addiction treatment and recovery.
BEAZER HOMES: Moody's Puts 'B2' CFR on Review Direction Uncertain
-----------------------------------------------------------------
Moody's Ratings placed Beazer Homes USA, Inc.'s (Beazer) B2
corporate family rating, B2-PD probability of default rating and
the B2 rating on the company's senior unsecured notes on review
with direction uncertain. The SGL-3 Speculative Grade Liquidity
rating remains unchanged. The outlook was changed to ratings on
review from stable.
The rating action follows the August 07, 2026 announcement that
Dream Finders Homes, Inc. (Dream Finders) is acquiring Beazer at an
enterprise value of about $2.2 billion. Dream Finders is a
publicly-traded homebuilder (NYSE: DFH) focused on the construction
of entry-level and move-up single-family homes.
RATINGS RATIONALE / FACTORS THAT COULD LEAD TO AN UPGRADE OR
DOWNGRADE OF THE RATINGS
The review with direction uncertain will focus on necessary
regulatory approvals for closing of the transaction as well as
Dream Finders' plans for the existing debt at Beazer, including
whether all of Beazer's notes will be repaid, guaranteed or legally
assumed by Dream Finders. As such, Moody's reviews will also focus
on Dream Finders' ability to maintain its credit profile while
taking on additional debt to fund this acquisition. Dream Finders'
B1 CFR and other ratings are under review for downgrade.
The Change of Control provisions within each of Beazer's senior
debt agreements will be triggered. However, Dream Finders could
legally assume some of the outstanding Beazer senior unsecured
notes through a successful amendment request, requiring a simple
majority approval from bondholders.
The review with direction uncertain also reflects that, while
unlikely, if the transaction does not close, Beazer's credit
metrics remain currently weak for its B2 rating as a result of an
erosion in profitability in a soft US housing market.
Governance risk considerations are material to the rating action,
since Beazer's board of directors decided to sell the company and
will no longer dictate Beazer's financial policies.
Beazer (NYSE: BZH), headquartered in Atlanta, Georgia, is a
national homebuilder, with 170 active communities in 13 states,
grouped into three regions. Its revenue for the 12 months ended
June 30, 2026 was $2.1 billion.
The principal methodology used in these ratings was Homebuilding
and Property Development published in September 2025.
BELA FLOR: Hanover Wins Dismissal of Loan Default Coverage Claim
----------------------------------------------------------------
Randi Love of Bloomberg Law reports that the three former
executives of Bela Flor Nurseries Inc. failed to secure insurance
coverage for more than $7.5 million in loan defaults after the
Eighth Circuit sided with a Hanover Insurance Group Inc. unit. The
executives had appealed a ruling denying coverage under the
nursery's directors and officers policy.
The case arose after the executives personally guaranteed loans
made to Bela Flor, a Missouri wholesale plant nursery that later
defaulted and filed for bankruptcy. The former executives sought
coverage for claims brought against them after creditors demanded
payment under their guarantees, the report states.
The appellate court said the executives' guarantees were personal
in nature and were not actions taken solely in their capacities as
officers of Bela Flor. The court also noted that the guarantees
were not executed on behalf of the company, placing the resulting
obligations outside the policy's coverage, according to report.
The three-judge panel therefore upheld Hanover's position in a per
curiam decision. The ruling reinforces the distinction between
actions taken by corporate executives in their official roles and
personal obligations undertaken by those executives, even when
their positions with the company led them to provide the
guarantees, the report cites.
About Bela Flor Nurseries Inc.
Bela Flor Nurseries, Inc. operates in the horticulture and retail
gardening industry. The company currently grows from seed and
cutting annual flowers, vegetables, bulbs, and floral items for
wholesalers, landscapers and retailers.
Bela Flor Nurseries Inc. and several affiliates filed Chapter 11
petitions (Bankr. N.D. Texas Lead Case No. 23-42469) on Aug. 22,
2023. In the petition signed by its chief restructuring officer,
Mark Shapiro, Bela Flor reported $10 million to $50 million in both
assets and liabilities.
Bela Flor is the operating company and SMB Holdings, LLC is the
primary real estate holding company. MFAF Holdings, LLC and CHIC
Holdings, LLC are wholly owned subsidiaries of SMB Holdings. SMB
Holdings owns several greenhouses in Austin, Texas, Carthage, Mo.,
and Jasper, Mo.; small lots in Henderson, Texas; and two corporate
houses in Harrisonville, Mo. MFAF Holdings holds two parcels of
land in Harrisonville while CHIC Holdings holds parcels of land in
Henderson. On the real property, the Debtors own and operate
several nurseries.
Judge Mark X. Mullin presides over the case.
The Debtors tapped Husch Blackwell, LLP as bankruptcy counsel;
TrueNorth Capital Partners, LLC as financial advisor and investment
banker; and B. Riley Advisory Services as restructuring advisor.
Mark Shapiro of B. Riley serves as chief restructuring officer.
BHB THREE: Seeks Subchapter V Bankruptcy in New York
----------------------------------------------------
On July 30, 2026, BHB Three LLC filed for Chapter 11 protection in
the U.S. Bankruptcy Court for the Southern District of New York,
Manhattan Division. According to the court filing, the Debtor
reports estimated assets of $1 million to $10 million and estimated
liabilities of $500,000 to $1 million, with between one and 49
creditors.
A meeting of creditors under Section 341(a) to be held on September
2, 2026 at 02:30 PM at Zoom.us - USTrustee 7: Meeting ID 161 1242
4438, Passcode 8901234678, Phone 1 (202) 793-2740.
About BHB Three LLC
BHB Three LLC operates full-service restaurant establishments in
Midtown Manhattan under the Bill’s Bar & Burger and Bareburger
brands. The company’s Chapter 11 filing follows recent litigation
with landlord New Ninth Ave. Corp. concerning lease terms and
ongoing operations.
BHB Three LLC sought relief under Subchapter V of Chapter 11 of the
U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 26-11801) on July
30, 2026. In its petition, the Debtor reports estimated assets of
$1 million to $10 million and estimated liabilities of $500,000 to
$1 million.
The Debtor is represented by J. Ted Donovan, Esq. of Goldberg
Weprin Finkel Goldstein LLP.
BIGTIME HOUSING: Gets OK to Use Cash Collateral Until Sept. 9
-------------------------------------------------------------
The U.S. Bankruptcy Court for the Eastern District of California
granted Bigtime Housing, LLC another extension to use the cash
collateral of its secured creditors.
The court entered a fifth interim order authorizing the Debtor to
use cash collateral from August 1 through September 9 in accordance
with the approved budget, subject to a 15% permitted variance for
individual budget line items.
Secured creditors including FCI Lender Services, Fay Servicing,
LLC, Forbix Capital Corporation, Shellpoint Mortgage Servicing, The
Bridge Loan, Inc., and the U.S. Small Business Administration will
receive adequate protection in the form of replacement liens on
cash collateral generated before and after the petition date.
As additional protection, the Debtor is required to make monthly
payments as follows: $11,500 to FCI Lender Services, $5,500 to The
Bridge Loan, $7,000 to Forbix Capital, multiple mortgage payments
to Fay Servicing and Shellpoint Mortgage Servicing, and $750 toward
the SBA COVID-19 EIDL loan.
The court will address the proposed $7,500 increase in payments to
CAFL 2023-RTL1 ISSUER, LLC at the next hearing set for September
9.
The order establishes a default procedure that may terminate a
creditor's consent to the use of cash collateral if the default
remains uncured for 30 days.
A copy of the court's order and the Debtor's budget is available at
https://shorturl.at/IjqwZ from PacerMonitor.com.
About Bigtime Housing, LLC
Bigtime Housing, LLC sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D. Calif. Case No. 26-20848) on Feb. 19,
2026, with between $10 million and $50 million in both assets and
liabilities.
Judge Hon. Christopher D Jaime oversees the case.
The Debtor is represented by:
Law Offices of Gabriel Liberman, APC
Gabriel E. Liberman, Esq.
1545 River Park Drive, Suite 530
Sacramento, CA 95815
Telephone: (916) 485-1111
Facsimile: (916) 485-1111
Gabe@4851111.com
BING PIZZA: Gets Interim OK to Use Cash Collateral Until Sept. 16
-----------------------------------------------------------------
The Bing Pizza, LLC on Aug. 11 received interim approval from the
U.S. Bankruptcy Court for the Southern District of Texas, Galveston
Division, to use cash collateral to fund its operations.
Under the interim order, the Debtor is authorized to use cash
collateral based on a court-approved budget through the final
hearing scheduled for Sept. 16.
The Debtor's cash collateral is encumbered by two primary secured
creditors, which have filed UCC-1 financing statements. WebBank
holds a business loan with an approximate balance of $46,000,
guaranteed personally by Christopher Nowlin and primarily secured
by the Debtor's point-of-sale accounts receivable through Toast.
The other creditor, Forward Financing USA, LLC, holds a merchant
cash advance, with an outstanding balance of approximately $31,000,
also guaranteed by Christopher Nowlin, secured by all tangible and
intangible property of the Debtor.
WebBank and Forward Financing will receive monthly payments of
$2,000 and $500, respectively, as adequate protection for the
Debtor's use of their cash collateral.
In addition, the lenders' security interests and liens on
post-petition collateral are deemed automatically created and
perfected without the need to execute, file, or record any
documents otherwise required by bankruptcy or applicable law.
The order is available at
http://bankrupt.com/misc/BingPizza_CCOrder18.pdf
The court scheduled a final hearing for Sept. 16 and set a Sept. 9
deadline for filing objections.
About The Bing Pizza LLC
The Bing Pizza, LLC sought protection for relief under Chapter 11
of the Bankruptcy Code (Bankr. S.D. Texas Case No. 26-80544) on
July 31, 2026, listing $50,001 to $100,000 in assets and $100,001
to $500,000 in liabilities.
Matthew Hoffman, Esq., at Hoffman & Saweris, P.C. serves as the
Debtor's counsel.
BRANDNER DESIGN: Capital Southwest Marks $9.1MM 1L at 52% Off
-------------------------------------------------------------
Capital Southwest Corp. has marked its $9.1 million first lien loan
to Brandner Design, LLC to market at $4.4 million or 48% of the
outstanding amount, according to Capital Southwest's Form 10-Q for
the fiscal quarter ended August 3, 2026, filed with the U.S.
Securities and Exchange Commission.
Capital Southwest is a participant in a loan extended to Brandner
Design, LLC.
Capital Southwest Corp. is a business development company that
provides financing solutions to middle-market businesses.
The Fund is led by Michael S. Sarner as President and Chief
Executive Officer.
The Fund can be reached at:
Michael S. Sarner
Capital Southwest Corp.
8333 Douglas Avenue, Suite 1100
Dallas, TX 75225
Telephone: (214) 238-5700
About Brandner Design, LLC
Limited information about Brandner Design, LLC was available from
the filing.
BRANDNER DESIGN: Capital Southwest Marks $9.1MM 1L Loan at 52% Off
------------------------------------------------------------------
Capital Southwest Corp. has marked its $9.1 million first lien loan
to Brandner Design LLC to market at $4.4 million or 48% of the
outstanding amount, according to Capital Southwest's Form 10-Q for
the fiscal quarter ended Aug. 3, 2026, filed with the U.S.
Securities and Exchange Commission.
Capital Southwest is a participant in a loan extended to Brandner
Design LLC. The first lien loan accrues interest at 15.69% per
annum and matures on Apr. 13, 2029.
Capital Southwest Corp. is a business development company that
provides financing solutions to middle-market businesses.
The Fund is led by Michael S. Sarner as President and Chief
Executive Officer.
The Fund can be reached at:
Michael S. Sarner
Capital Southwest Corp.
8333 Douglas Avenue, Suite 1100
Dallas, TX 75225
Telephone: (214) 238-5700
About Brandner Design LLC
Brandner Design LLC is an Architectural Design Company based out of
Montana, United States.
CAMPANY ROOF: Capital Southwest Marks $13.2MM 1L at 26% Off
-----------------------------------------------------------
Capital Southwest Corp. has marked its $13.2 million first lien
loan to Campany Roof Maintenance LLC to market at $9.8 million or
74% of the outstanding amount, according to Capital Southwest's
10-Q for the fiscal quarter ended Aug. 3, 2026, filed with the U.S.
Securities and Exchange Commission.
Capital Southwest is a participant in a loan extended to Campany
Roof Maintenance LLC. The first lien loan accrues interest at
11.74% per annum and matures on Nov. 27, 2028.
Capital Southwest Corp. is a business development company that
provides financing solutions to middle-market businesses.
The Fund is led by Michael S. Sarner as President and Chief
Executive Officer.
The Fund can be reached at:
Michael S. Sarner
Capital Southwest Corp.
8333 Douglas Avenue, Suite 1100
Dallas, TX 75225
Telephone: (214) 238-5700
About Campany Roof Maintenance LLC
Campany Roof Maintenance, LLC operates as a professional roofing
contractor.
CARTA FINISHING: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------------
Debtor: Carta Finishing, LLC
d/b/a Comix Well Spring
d/b/a CWS Bookstore
d/b/a CWS Bookstore.com
15085 E. Eleven Mile Road
Roseville, MI 48066
Business Description: Carta Finishing, LLC provides commercial
printing, binding and print-finishing services, including perfect
binding, saddle stitching, mechanical binding, die cutting, folding
and gluing, mailing and fulfillment, and comic book and graphic
novel printing. The company also operates an online marketplace for
printed and digital comics under its CWS Bookstore trade name.
Chapter 11 Petition Date: August 4, 2026
Court: United States Bankruptcy Court
Eastern District of Michigan
Case No.: 26-48727
Judge: Hon. Lisa S Gretchko
Debtor's Counsel: John J. Stockdale, Jr., Esq.
SCHAGER AND WEINER, PLLC
40950 Woodward Avenue, Ste. 100
Bloomfield Hills, MI 48304
Tel: (248) 540-3340
Email: jstockdale@schaferandweiner.com
Estimated Assets: $0 to $50,000
Estimated Liabilities: $1 million to $10 million
The petition was signed by Brian C. Johnson as president.
A copy of the Debtor's list of its 20 largest unsecured creditors
is available for free on PacerMonitor at:
https://www.pacermonitor.com/view/P2PCQAI/Carta_Finishing_LLC__miebke-26-48727__0006.0.pdf?mcid=tGE4TAMA
A full-text copy of the petition is available for free on
PacerMonitor at:
https://www.pacermonitor.com/view/3QKOEVA/Carta_Finishing_LLC__miebke-26-48727__0001.0.pdf?mcid=tGE4TAMA
CCSL BILOXI: Seeks 120-Day Extension of Plan Filing Deadline
------------------------------------------------------------
CCSL Biloxi, LLC, asked the U.S. Bankruptcy Court for the Southern
District of Mississippi to extend its exclusivity period to file a
plan of reorganization for additional 120 days.
The Debtor is in possession of its property and the management of
its business as a debtor-in-possession pursuant to Sections 1107
and 1108. No Chapter 11 Trustee has been appointed in this case. No
unsecured creditors committee has been appointed in this case.
On May 15, 2026, the Court entered an Order on Motion for Extension
of Exclusivity Period wherein it extended the 120-day exclusivity
period and the 180-day exclusivity period an additional 120 days to
August 6, 2026 and October 6, 2026 respectively
The Debtor explains that its counsel was unavailable nearly the
entire month of June and portions of July due to his father's
illness. Additionally, the Debtor requires additional time before
filing of a play of reorganization to obtain DIP financing to make
equipment repairs essential to the Debtor's continued operation.
The Debtor requests the Court to extend the 120-day period and the
180-day period specified in Section 1121(b) of the Bankruptcy Code
and (c) by an additional 120 days.
CCSL Biloxi, LLC is represented by:
W. Jarrett Little, Esq.
THE LITTLE LAW FIRM, PLLC
2505 14th Street, Suite 212
Gulfport, MS 39501
Telephone: (228) 867-6050
E-mail: jarrett@thelittlelaw.com
About CCSL Biloxi LLC
CCSL Biloxi, LLC provides commercial laundry and linen services,
primarily serving hotels and casinos in the Gulf Coast region. The
Gulfport, Mississippi-based company manages a fleet of vehicles for
transporting laundered goods and maintains facilities for washing,
drying, and handling linens.
CCSL Biloxi sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. S.D. Miss. Case No. 25-51843. At the time of the
filing, the Debtor listed between $1 million and $10 million in
assets and liabilities.
Judge Katharine M. Samson oversees the case.
The Little Law Firm, PLLC serves as the Debtor's bankruptcy
counsel.
CDI FUND I: Involuntary Chapter 11 Case Summary
-----------------------------------------------
Alleged Debtor: CDI Fund I LLC
9910 Aquarius Dr
Port Ritchey FL 34668
Involuntary Chapter
11 Petition Date: August 2, 2026
Court: United States Bankruptcy Court
Southern District of New York
Case No.: 26-11868
Judge: Hon. Lisa G Beckerman
Petitioner's Counsel: Unknown
A full-text copy of the Involuntary Petition is available for free
on PacerMonitor at:
https://www.pacermonitor.com/view/CFF7TWI/CDI_Fund_I_LLC__nysbke-26-11868__0001.0.pdf?mcid=tGE4TAMA
Alleged creditor who signed the petition:
Petitioner Nature of Claim Claim Amount
Abraham A. Roth Loan $80,000
2 Colonel Conklin Dr
Stony Point NY 10980
CHS FL: Court OKs M. Goldberg's Appointment as Chapter 11 Trustee
-----------------------------------------------------------------
Guy Van Baalen, the Acting U.S. Trustee for Region 21, appointed
Michael Goldberg, Esq., at Akerman, LLP as Chapter 11 trustee for
CHS FL, LLC and affiliates.
The appointment was made pursuant to the order from the U.S.
Bankruptcy Court for the Middle District of Florida on Aug. 5.
Counsel for Mr. Van Baalen has consulted with or reached out to the
following parties-in-interest regarding the appointment of the
Chapter 11 trustee: Jeremy Johnson, Esq., bankruptcy counsel for
the companies; Michael Dal Lago Esq., local counsel to the
companies; Daniel Desatnik, Esq., counsel to the official unsecured
creditors committee; and Kevin Nash, Esq., counsel to M2 LoanCo
LLC
To the best of Mr. Van Baalen's knowledge, Mr. Goldberg's
connections with the companies, creditors, and other
parties-in-interest and their respective attorneys and accountants,
the Office of the U.S. Trustee and persons employed by his office
are limited to the connections set forth in Mr. Goldberg's verified
statement.
The Chapter 11 trustee may be reached at:
Michael Goldberg, Esq.
Akerman, LLP
201 E. Las Olas Bld.
Suite 1800
Fort Lauderdale, FL 33301
954-468-2444
Michael.goldberg@akerman.com
About CHS FL LLC
CHS FL, LLC, a company in Naples, Fla., and its affiliates provide
correctional healthcare services to jails, prisons and other
correctional facilities.
CHS FL and its affiliates sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. M.D. Fla. Lead Case No. 26-01087) on May 8
and May 13, 2026. At the time of the filing, CHS FL had estimated
assets of between $50 million and $100 million and liabilities of
between $100 million and $500 million.
Judge Luis Ernesto Rivera II oversees the cases.
Dal Lago Law and Polsinelli, PC, serve as the Debtors' bankruptcy
counsel.
CHVAC SERVICES: Golub Capital Marks $714,000 Loan at 24% Off
------------------------------------------------------------
Golub Capital BDC, Inc. has marked its $714,000 one stop loan to
CHVAC Services Investment, LLC to market at $541,000 or 76% of the
outstanding amount, according to Golub Capital's Form 10-Q for the
fiscal quarter ended June 30, 2026, filed with the U.S. Securities
and Exchange Commission.
Golub Capital is a participant in a loan extended to CHVAC
Services. The one stop facility accrues interest at SF + 4.75% per
annum. The one stop facility matures in May 2030.
Golub Capital BDC, Inc. is an externally managed, closed-end,
non-diversified management investment company that primarily
invests in debt securities of middle-market companies.
The Fund is led by David B. Golub as Chief Executive Officer.
The Fund can be reached at:
David B. Golub
Golub Capital BDC, Inc.
200 Park Avenue, 25th Floor
New York, NY 10166
Telephone: (212) 750-6060
About CHVAC Services Investment, LLC
CHVAC Services Investment, LLC (often listed in SEC corporate
filings alongside its operational arm, CHVAC Services Holdings,
LLC) is a corporate entity used to manage and finance NexCore.
CNT HOLDINGS: Moody's Affirms 'B2' CFR, Outlook Stable
------------------------------------------------------
Moody's Ratings affirmed the B2 corporate family rating and B2-PD
probability of default rating of CNT Holdings I Corp (dba "1-800
Contacts"). Concurrently, Moody's affirmed the B2 ratings on 1-800
Contacts' senior secured first lien bank credit facilities
inclusive of the company's proposed $350 million incremental senior
secured first lien term loan. The outlook is stable.
Proceeds from the $350 million incremental first lien term loan
coupled with $150 million of balance sheet cash will be used to
fund a distribution to shareholders.
The affirmations reflect that although the debt-financed dividend
will lead to higher leverage, Moody's anticipates 1-800 Contacts'
revenue and EBITDA growth momentum will allow the company to
improve credit metrics over the next 12-18 months. Pro forma for
the transaction, Moody's estimates 1-800 Contacts debt/EBITDA and
EBITA/interest of about 6.7x and 2.2x, respectively at 2Q'26.
Moody's expects the company to continue to gain share, maintain
high retention rates and increase customer spend which would drive
low double digit sales and earnings growth resulting in debt/EBITDA
of approximately 5.3x and EBITA/interest of 2.8x over the next
12-18 months. Moody's also expects 1-800 Contacts to maintain very
good liquidity including about $225 million of free cash flow over
the next twelve months (outside of any further discretionary
dividends), ample cash balances and an undrawn $150 million
revolver.
RATINGS RATIONALE
1-800 Contacts' B2 CFR reflects its high financial leverage and
governance considerations, specifically its aggressive financial
policy under private equity ownership including frequent debt
financed shareholder distributions with its most recent
debt-financed dividend in Q3'26. The company's credit profile also
reflects its small scale relative to retail industry peers and the
highly competitive and commoditized nature of the contact lens
retail business. Solid financial performance following its 2020 LBO
has allowed the company to still retain modest credit metrics
despite the frequent re-leveraging. The company also has good brand
name recognition as well as a leading position as an online player
as it continues to invest in innovation. Moody's also recognizes
the recession resilient nature of demand for contact lenses, as
well as the growing e-commerce penetration and premiumization
within the category. 1-800 Contacts has very good liquidity
including positive free cash flow, full revolver availability and a
lack of near-term maturities.
The stable outlook reflects Moody's expectations that 1-800
Contacts will demonstrate solid credit metrics for its rating
category and maintain very good liquidity over the next 12-18
months.
FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS
The ratings could be upgraded following continued solid revenue and
earnings growth, maintenance of very good liquidity including
robustly positive free cash flow as well as a demonstrated
commitment to balanced financial policies that support stronger
credit metrics. Quantitatively, ratings could be upgraded if
Debt/EBITDA is sustained below 4.75x and EBITA/interest expense
sustained above 2.25x
The ratings could be downgraded if liquidity or earnings materially
deteriorate or financial strategy becomes more aggressive.
Quantitatively, ratings could be downgraded if leverage is
sustained above 6.5x or EBITA/interest expense sustained below
1.75x
CNT Holdings I Corp ("CNT" or "1-800 Contacts") is an online
retailer and distributor of contact lenses in the US. The company
is controlled by affiliates of Kohlberg Kravis Roberts & Co L.P.
and generated roughly $1.8 billion in revenue for the twelve months
ended June 30, 2026.
The principal methodology used in these ratings was Retail and
Apparel published in September 2025.
CORNERSTONE ONDEMAND: New Mountain Marks $1.8MM Loan 36% Off
------------------------------------------------------------
New Mountain Finance Corp has marked its $1,800,000 loan to
Cornerstone OnDemand, Inc. to market at $1,155,000 or 64% of the
outstanding amount, according to New Mountain's Form 10-Q for the
fiscal quarter ended Aug. 3, 2026, filed with the U.S. Securities
and Exchange Commission.
New Mountain is a participant in a loan extended to Cornerstone
OnDemand. The loan accrues interest at 7.51% per annum. The loan
matures in October 2028.
New Mountain Finance Corp is a closed-end, externally managed,
non-diversified management investment company that operates as a
business development company, primarily investing in middle-market
companies in the United States.
The Fund is led by John R. Kline as President, Chief Executive
Officer (Principal Executive Officer) and Director.
The Fund can be reached at:
John R. Kline
New Mountain Finance Corporation
1633 Broadway, 48th Floor
New York, NY 10019
Telephone: (212) 720-0300
About Cornerstone OnDemand, Inc.
Limited information about Cornerstone OnDemand, Inc. was available
from the filing.
CORNERSTONE ONDEMAND: New Mountain Marks $2.5MM Loan 36% Off
------------------------------------------------------------
New Mountain Finance Corp has marked its $2,520,000 loan to
Cornerstone OnDemand, Inc. to market at $1,617,000 or 64% of the
outstanding amount, according to New Mountain's Form 10-Q for the
fiscal quarter ended Aug. 3, 2026, filed with the U.S. Securities
and Exchange Commission.
New Mountain is a participant in a loan extended to Cornerstone
OnDemand. The loan accrues interest at 7.51% per annum. The loan
matures in October 2028.
New Mountain Finance Corp is a closed-end, externally managed,
non-diversified management investment company that operates as a
business development company, primarily investing in middle-market
companies in the United States.
The Fund is led by John R. Kline as President, Chief Executive
Officer (Principal Executive Officer) and Director.
The Fund can be reached at:
John R. Kline
New Mountain Finance Corporation
1633 Broadway, 48th Floor
New York, NY 10019
Telephone: (212) 720-0300
About Cornerstone OnDemand, Inc.
Limited information about Cornerstone OnDemand, Inc. was available
from the filing.
CORSAIR BLADE: Golub Capital Marks $1.2MM Loan at 50% Off
---------------------------------------------------------
Golub Capital BDC, Inc. has marked its $1.2 million one stop loan
to Corsair Blade IV S.A R.L. to market at $602,000 or 50% of the
outstanding amount, according to Golub Capital's Form 10-Q for the
fiscal quarter ended June 30, 2026, filed with the U.S. Securities
and Exchange Commission.
Golub Capital is a participant in a loan extended to Corsair Blade
IV. The one stop facility accrues interest at SN + 5.75% per annum.
The one stop facility matures in Dec. 2030.
Golub Capital BDC, Inc. is an externally managed, closed-end,
non-diversified management investment company that primarily
invests in debt securities of middle-market companies.
The Fund is led by David B. Golub as Chief Executive Officer.
The Fund can be reached at:
David B. Golub
Golub Capital BDC, Inc.
200 Park Avenue, 25th Floor
New York, NY 10166
Telephone: (212) 750-6060
About Corsair Blade IV S.A R.L.
Corsair Blade IV S.A R.L.'s corporate purpose is the holding of
shareholdings and interests in any form whatsoever in Luxembourg
and foreign companies.
COVERCRAFT PARENT: Golub Capital Marks $1.39MM Loan at 27% Off
--------------------------------------------------------------
Golub Capital BDC, Inc. has marked its $1.392 million senior
secured loan to Covercraft Parent III, Inc. to market at $1.016
million or 73% of the outstanding amount, according to Golub
Capital's Form 10-Q for the fiscal quarter ended June 30, 2026,
filed with the U.S. Securities and Exchange Commission.
Golub Capital is a participant in a loan extended to Covercraft
Parent. The senior secured loan accrues interest at 5.38% cash and
3.50% payment-in-kind per annum and matures in August 2029.
Golub Capital BDC, Inc. is an externally managed, closed-end,
non-diversified management investment company that primarily
invests in debt securities of middle-market companies.
The Fund is led by David B. Golub as Chief Executive Officer.
The Fund can be reached at:
David B. Golub
Golub Capital BDC, Inc.
200 Park Avenue, 25th Floor
New York, NY 10166
Telephone: (212) 750-6060
About Covercraft Parent III, Inc.
Covercraft Parent III, Inc. is the corporate holding company entity
for Covercraft Industries, LLC, a leading American manufacturer
specializing in custom-fit vehicle protection products.
COVERCRAFT PARENT: Golub Capital Marks $6.8MM Loan at 27% Off
-------------------------------------------------------------
Golub Capital BDC, Inc. has marked its $6.8 million senior secured
loan to Covercraft Parent III, Inc. to market at $5.0 million or
73% of the outstanding amount, according to Golub Capital's Form
10-Q for the fiscal quarter ended June 30, 2026, filed with the
U.S. Securities and Exchange Commission.
Golub Capital is a participant in a loan extended to Covercraft
Parent. The senior secured loan accrues interest at 5.32% cash and
3.50% payment-in-kind interest per annum. The senior secured loan
matures in August 2029.
Golub Capital BDC, Inc. is an externally managed, closed-end,
non-diversified management investment company that primarily
invests in debt securities of middle-market companies.
The Fund is led by David B. Golub as Chief Executive Officer.
The Fund can be reached at:
David B. Golub
Golub Capital BDC, Inc.
200 Park Avenue, 25th Floor
New York, NY 10166
Telephone: (212) 750-6060
About Covercraft Parent III, Inc.
Covercraft Parent III, Inc. is the corporate holding company entity
for Covercraft Industries, LLC, a leading American manufacturer
specializing in custom-fit vehicle protection products.
CP&J FARMS: Seeks to Use Cash Collateral
----------------------------------------
CP & J Farms, LLC asks the U.S. Bankruptcy Court for the Eastern
District of North Carolina, Greenville Division, for authority to
use cash collateral and provide adequate protection.
The Debtor voluntarily initiated Chapter 11 bankruptcy proceedings
aiming to reorganize its financial operations, lower cash flow
demands, and maintain business operations as a going concern
through a consensual plan of reorganization.
At the time of the bankruptcy petition, the Debtor held
approximately $2,148 in bank account balances, all of which was
transferred into a newly established Debtor-in-Possession checking
account, along with unencumbered real and personal
property—including receivables, unencumbered inventory,
equipment, furnishings, raw materials, and finished goods—valued
at approximately $275,000.
The Debtor's ongoing revenue collections and cash collateral are
subject to a potential security interest held by one creditor, the
U.S. Small Business Administration, pursuant to a Security
Agreement and UCC-1 financing statement filed with the North
Carolina Secretary of State on November 18, 2021.
To meet statutory adequate protection requirements under 11 U.S.C.
Section 363, the Debtor proposes granting the SBA a replacement
lien on post-petition cash and personal property to the same extent
and priority as its pre-petition perfected security interest.
Additionally, the Debtor proposes making monthly cash payments of
$1,673 to the SBA, matching the projected monthly secured payment
expected under its forthcoming reorganization plan.
A copy of the motion is available at https://urlcurt.com/u?l=B0KXxj
from PacerMonitor.com.
About CP & J Farms, LLC
CP & J Farms, LLC operates a chicken farming business in Ahoskie,
North Carolina.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D. N.C. Case No. 26-03539-5-JNC) on
August 4, 2026. In the petition signed by Jacqueline Simmons,
member/manager, the Debtor disclosed up to $500,000 in both assets
and liabilities.
Judge Joseph N. Callaway oversees the case.
Danny Bradford, Esq., at Paul D. Bradford, PLLC, represents the
Debtor as legal counsel.
CROSBY MARINE: Asset Auction Scheduled for August 13, 2026
----------------------------------------------------------
Crosby Marine Transportation, LLC and its affiliated debtors (the
"Debtors") are soliciting offers, potentially at an auction, for a
transaction or transactions, any of which may include the purchase
of some or all of the Debtors' Assets, consistent with the bidding
procedures (the "Bidding Procedures") approved by the United States
Bankruptcy Court for the Eastern District of Louisiana (the
"Court") by entry of an order on July 21, 2026 (the "Bidding
Procedures Order"). All interested bidders should carefully read
the Bidding Procedures and Bidding Procedures Order. To the extent
that there are any inconsistencies between this notice and the
Bidding Procedures or the Bidding Procedures Order, the Bidding
Procedures or the Bidding Procedures Order, as applicable, shall
govern in all respects.
The Bid Deadline is August 7, 2026, at 5:00 p.m. (prevailing
Central Time), as the deadline by which all binding bids must be
actually received by the Debtors, and that any person or entity who
wishes to participate in the Auction must comply with the
participation requirements, bid requirements, and other
requirements set forth in the Bidding Procedures.
The Debtors intend to conduct the Auction, at which time they will
consider proposals submitted to the Debtors and their
professionals, by and pursuant to the Bidding Procedures as set
forth in the Bidding Procedures Order, with the first day of the
Auction (if any) to start on August 13, 2026, at 10:00 a.m.
(prevailing Central Time) and continuing through August 14, 2026,
as necessary, in person at a location to be disclosed in writing to
the Qualified Bidders and the Consultation Parties. Each Qualified
Bidder shall attend the Auction in person through at least one
representative, unless the Debtors agree to another method of
appearing at the Auction, after consultation with the Consultation
Parties.
No later than twenty-four (24) hours after the conclusion of the
Auction, the Debtors shall (a) file notice of the Successful Bid(s)
and the Successful Bidder(s) with the Court (the "Post-Auction
Notice"), which Post-Auction Notice shall include a list of any
executory contract and leases to be assumed and assigned.
The Debtors expect to seek approval of any Sales at the Sale
Hearing, on August 31, 2026 at 9:00 a.m. (prevailing Central Time),
or such other date and time as the Court's calendar permits before
the Honorable Meredith S. Grabill in the United States Bankruptcy
Court, 500 Poydras Street, Courtroom B-709, New Orleans, LA 70130.
Except as otherwise set forth in the Bidding Procedures Order with
respect to objections to proposed cure amounts or the assumption
and assignment of Assigned Contracts, objections, if any, to a
proposed Sale must: (a) be in writing; (b) conform to the
applicable provisions of the Bankruptcy Rules and the Bankruptcy
Local Rules; (c) state with particularity the legal and factual
basis for the objection and the specific grounds therefor; and (d)
be filed with the Court by August 24, 2026 at 4:00 p.m. (prevailing
Central Time).
CONSEQUENCES OF FAILING TO TIMELY MAKE AN OBJECTION ANY PARTY OR
ENTITY WHO FAILS TO TIMELY MAKE AN OBJECTION TO A SALE ON OR BEFORE
THE SALE OBJECTION DEADLINE IN ACCORDANCE WITH THE BIDDING
PROCEDURES ORDER SHALL BE FOREVER BARRED FROM ASSERTING ANY
OBJECTION TO SUCH SALE, INCLUDING WITH RESPECT TO THE TRANSFER OF
THE SELLING DEBTORS' ASSETS FREE AND CLEAR OF ALL LIENS, CLAIMS,
ENCUMBRANCES, AND OTHER INTERESTS, EXCEPT AS SET FORTH IN THE
APPLICABLE PURCHASE AGREEMENT(S).
NO SUCCESSOR OR TRANSFEREE LIABILITY
The Sale Order is expected to provide, among other things, that the
Successful Bidder from the Sale will have no responsibility for,
and the Assets will be sold free and clear of, any successor
liability, including the following:
To the greatest extent allowable by applicable law, the Successful
Bidder shall not be deemed, as a result of any action taken in
connection with the Stalking Horse Agreement (in the case where a
Stalking Horse Bidder is the Successful Bidder) or a separate
purchase agreement entered into with the Successful Bidder (if a
Stalking Horse Bidder is not the Successful Bidder), the
consummation of the Sale, or the transfer or operation of the
Assets, to (a) be a legal successor, or otherwise be deemed a
successor to the Debtors (other than with respect to any
obligations as an assignee under the Assigned Contracts arising
after the Effective Date); (b) have, de facto or otherwise, merged
with or into the Debtors; or (c) be an alter ego or mere
continuation or substantial continuation of the Debtors, in
the case of each of (a), (b), and (c), including, without
limitation, within the meaning of any foreign, federal, state or
local revenue law, pension law, the Employee Retirement Income
Security Act, the Consolidated Omnibus Budget Reconciliation Act,
the WARN Act (29 U.S.C. Secs. 2101 et seq.), the Fair Labor
Standard Act, Title VII of the Civil Rights Act of 1964 (as
amended), the Age Discrimination and Employment Act of 1967 (as
amended), the Federal Rehabilitation Act of 1973 (as amended), the
National Labor Relations Act (29 U.S.C. Sec. 151, et seq.),
environmental liabilities, debts, claims or obligations, any
liabilities, debts or obligations of or required to be paid by the
Debtors for any taxes of any kind for any period, labor,
employment, or other law, rule or regulation (including without
limitation filing requirements under any such laws, rules or
regulations), or under any products liability law or doctrine with
respect to the Debtors' liability under such law, rule or
regulation or doctrine.
All rights of any party to set off any claims, debts or obligations
owed by or to the Successful Bidder in connection with the Assets
shall be extinguished on the Effective Date pursuant to the Sale
Order. Other than as expressly set forth in the Stalking Horse
Agreement (or another Successful Bidder's purchase agreement, as
applicable) with respect to Assumed Liabilities, the Successful
Bidder shall not have any responsibility for (a) any liability or
other obligation of the Debtors or related to the assets or (b) any
claims (as such term is defined by section 101(5) of the Bankruptcy
Code) against the Debtors or any of their predecessors or
affiliates. To the greatest extent allowed by applicable law, the
Successful Bidder shall have no liability whatsoever with respect
to the Debtors' (or their predecessors' or affiliates') respective
businesses or operations or any of the Debtors' (or their
predecessors' or affiliates') obligations based, in whole or part,
directly or indirectly, on any theory of successor or vicarious
liability of any kind or character, or based upon any theory of
antitrust, environmental, successor or transferee liability, de
facto merger or substantial continuity, labor and employment or
products liability, whether known or un-known as of the Effective
Date, now existing or hereafter arising, asserted or unasserted,
fixed or contingent, liquidated or unliquidated, including
liabilities on account of any taxes arising, accruing or payable
under, out of, in connection with, or in any way relating to the
operation
of the Assets prior to the Effective Date.
The Debtors reserve the right, after consultation with the
Consultation Parties and in their reasonable business judgment and
subject to the exercise of their fiduciary duties, to modify the
Bidding Procedures and/or to terminate discussions with any
Potential Bidders at any time, to the extent not materially
inconsistent with the Bidding Procedures.
Copies of the Bidding Procedures Motion, Bidding Procedures, and
Bidding Procedures Order, as well as all related exhibits, are
available: (a) free of charge upon request to Stretto (the notice
and claims agent retained in these chapter 11 cases) by (i) calling
(833) 307-4262 (Toll Free) or +1 (916) 405-7847 (International); or
(ii) visiting the Debtors' restructuring website at
(https://cases.stretto.com/crosby/); or (b) for a fee via PACER by
visiting http://www.laeb.uscourts.gov
About Crosby Marine Transportation
Crosby Marine Transportation, LLC, through its affiliates, provides
marine transportation, dredging and marine construction services
along the Gulf Coast, operating a fleet of about 200 vessels and
marine equipment, including tugs, barges and dredging assets, from
Golden Meadow and Houma, Louisiana. Founded in 1977 by Vinton and
Kurt Crosby, the company serves commercial, government and energy
customers, employs about 850 full-time workers and holds a 49.9%
interest in Luhr Crosby, which provides rock and marine
construction services.
Crosby Marine Transportation sought relief under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. E.D. La. Case No. 26-10678) on Mar.
23, 2026. In the petitions signed by Lawrence Perkins, chief
restructuring officer, Crosby Marine disclosed up to $500 million
in both assets and liabilities.
Judge Meredith S. Grabill oversees the case.
The Debtors tapped Lugenbuhl, Wheaton, Peck, Rankin & Hubbard as
counsel; Aymond James & Associates, Inc., as investment banker; and
Stretto, Inc., as claims, noticing, and solicitation agent.
CROSSCOUNTRY INTERMEDIATE: Moody's Rates New $500MM Unsec. Notes B1
-------------------------------------------------------------------
Moody's Ratings has assigned a B1 backed senior unsecured debt
rating to CrossCountry Intermediate Holdco, LLC's proposed $500
million backed senior unsecured notes due in 2031. The company
intends to use the net proceeds from the offering to pay down its
secured mortgage servicing rights (MSR) facilities. Remaining
proceeds will be used for general corporate purposes.
CrossCountry Intermediate Holdco, LLC is the intermediate holding
company of CrossCountry Holdco, LLC (CCM). The rating action does
not affect CCM's Ba3 corporate family rating. The outlook for both
entities is stable.
RATINGS RATIONALE
The B1 backed senior unsecured debt rating assigned to the proposed
notes is aligned with the existing rating on the outstanding senior
unsecured notes. The proposed transaction is credit positive
because it reduces the company's reliance on secured MSR financing,
increasing the company's financial flexibility in times of stress.
CCM's Ba3 CFR reflects the company's growing franchise in the US
residential mortgage market, where it is a top 10 mortgage
originator and the largest in the distributed-retail channel. The
rating also incorporates the credit-positive impact on CCM's
financial profile from its recent acquisition of Two Harbors
Investment Corp. (TWO). The acquisition of TWO's in-house servicing
platform should complement CCM's distributed-retail business model
by enabling it to capture the full economics through the life of
the loan and support improved loan recapture rates. Upon successful
integration, Moody's expects the increased scale and
diversification will enhance CCM's operating leverage, support
strong profitability and moderately reduce earnings volatility.
The B1 backed senior unsecured debt rating is one notch below the
company's Ba3 CFR, incorporating the debt's priority of claim,
strength of asset coverage and Moody's expectations of the
company's use of secured corporate debt relative to total corporate
debt.
The stable outlook reflects Moody's expectations that the
integration risk of the TWO acquisition will be modest and that CCM
will maintain strong profitability with limited volatility and
solid capitalization. Moody's also assumes that the company's
funding and liquidity management policies will remain broadly
unchanged over the next 12-18 months.
FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATING
The ratings could be upgraded if the company: 1) strengthens its
capitalization, such that its tangible common equity (TCE) to
tangible managed assets (TMA) increases and remains above 22.0%; 2)
reduces its reliance on secured funding; 3) maintains strong
profitability, as measured by net income to average managed assets
above 4.0%; and 4) reduces the proportion of
non-agency/non-government loan originations relative to total
originations.
The ratings could be downgraded if the company: 1) weakens its
financial profile or franchise position, such that TCE/TMA declines
below 12.0% or net income to average managed assets remains below
2.0%; 2) increases the proportion of non-agency/non-government loan
origination volumes to more than 30% of total originations without
a commensurate increase in liquidity sources and capital to address
the associated risks; or 3) increases refinance risk, such that the
average remaining maturity of its warehouse lines declines and is
expected to remain below 12 months. In addition, Moody's could
downgrade the long-term senior unsecured debt rating if secured MSR
debt or other secured corporate debt rises and Moody's expects it
to remain above 50% of total corporate debt.
The principal methodology used in this rating was Finance Companies
published in July 2024.
CSC HOLDINGS: Lord Abbett Marks $22.47MM Loan at 43% Off
--------------------------------------------------------
Lord Abbett Investment Trust has marked its $22.47 million loan to
CSC Holdings LLC to market at $12.77 million or 57% of the
outstanding amount, according to Lord Abbett's Form N-CSRS for the
fiscal quarter ended Aug. 3, 2026, filed with the U.S. Securities
and Exchange Commission.
Lord Abbett is a participant in a loan extended to CSC Holdings
LLC. The loan accrues interest at 4.50% per annum. The loan matures
on Nov. 15, 2031.
Lord Abbett Investment Trust is a registered management investment
company.
The Fund is led by Douglas B. Sieg as President and Chief Executive
Officer.
The Fund can be reached at:
Douglas B. Sieg
Lord Abbett Investment Trust
30 Hudson Street
Jersey City, NJ 07302-4804
Telephone: (888) 522-2388
About CSC Holdings LLC
CSC Holdings, LLC is a major American telecommunications subsidiary
operating primarily as Optimum (formerly Cablevision).
CUMULUS MEDIA: Faces Delay in Nielsen Injunction
------------------------------------------------
Nadia Dreid of Law360 Bankruptcy Authority reports that Cumulus
Media cannot immediately enforce an injunction against Nielsen
despite winning an appellate ruling upholding the antitrust order,
a New York federal judge has determined. The injunction, which
prevents Nielsen from tying access to its national radio ratings
data to purchases of local products, remains unenforceable for now
amid Cumulus' bankruptcy case.
Cumulus sued Nielsen after the ratings company adopted a policy
requiring national radio broadcasters to purchase local ratings
data in markets where they operate. Cumulus argued that Nielsen’s
pricing for standalone national data was prohibitively high and
effectively coerced broadcasters into purchasing local services.
The Second Circuit agreed that the alleged pricing arrangement
could amount to constructive tying and affirmed the preliminary
injunction, the report relays.
The bankruptcy proceedings have complicated enforcement of the
injunction. Although the Second Circuit allowed the appeal to
proceed after Cumulus filed for Chapter 11, the New York court has
now determined that the injunction cannot be enforced until further
proceedings. Cumulus continues to pursue its broader antitrust
claims against Nielsen, according to Law360.
About Cumulus Media Inc.
Cumulus Media is an audio-first media company delivering premium
content to a quarter billion people every month -- wherever and
whenever they want it. Cumulus Media engages listeners with high
quality local programming through 394 owned-and-operated radio
stations across 84 markets; delivers nationally-syndicated sports,
news, talk, and entertainment programming from iconic brands
including the NFL, the NCAA, the Masters, US Soccer, AP News, and
the Academy of Country Music Awards, across more than 7,800
affiliated stations through Westwood One, a leading national audio
network; and inspires listeners through the Cumulus Podcast
Network, an established and influential platform for original
podcasts that are smart, entertaining, and thought provoking.
Cumulus Media provides advertisers with personal connections, local
impact, and national reach through broadcast and on-demand digital,
mobile, social, and voice-activated platforms, as well as
integrated digital marketing services, powerful influencers,
full-service audio solutions, industry leading research and
insights, and live event experiences.
Cumulus Media Inc. sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Texas Case No. 26-90346) on March 5,
2026. In the petition signed by Richard Denning, Executive Vice
President, Secretary & General Counsel, the Debtor disclosed up to
$10 billion in both assets and liabilities. As of Sept. 30, 2025,
the Company had $1,078,217,000 in total assets, $1,135,135,000 in
total liabilities.
Judge Alfredo R. Perez oversees the case.
Lawyers at Paul, Weiss, Rifkind, Wharton & Garrison LLP serve as
counsel. Porter Hedges LLP, represents the Debtor as local counsel.
The Debtors hired as Alvarez & Marsal North America, LLC as
restructuring advisor; Moelis & Company as financial advisor; and
Kurtzman Carson Consultants, LLC d/b/a Verita Global as claims,
noticing, solicitation & certification agent.
CURRY HEALTH: Moody's Assigns 'Ba1' Issuer Rating
-------------------------------------------------
Moody's Ratings has assigned a Ba1 issuer rating to Curry Health
District, OR, downgraded the district's general obligation
unlimited tax (GOULT) bond rating to Baa1 from A3, and downgraded
the district's general obligation limited tax (GOLT) bond rating to
Ba1 from A3. The outlook has been revised to stable, previously
under review. This action concludes the review for possible
downgrade that was initiated on May 28, 2026 and reflects the
application of the updated Not-for-profit Healthcare methodology.
The district has approximately $33.4 million of total debt
outstanding.
RATINGS RATIONALE
The assignment of the Ba1 issuer rating reflects Curry Health
District's good competitive position as the operator of the only
hospital in Curry County in south west Oregon, supporting good
EBIDA, strong top line revenue growth, stable liquidity, and a
moderate debt burden. The district operates four locations along
the southern Oregon coast, in a region that benefits from tourism
as well as fishing, forestry, healthcare, and agriculture, but is
also somewhat isolated with a modest resident income equal to 77.0%
of the US median. Good financial performance is expected to
continue, driven by ongoing strategic investments, with EBIDA
margin sustained in the low double digit range. Despite ongoing
capital projects including a new cancer center, liquidity is
expected to remain above at least 130 days. Debt metrics will also
remain favorable in the absence of any new debt, with unrestricted
cash and investments to total adjusted debt remaining above 100%,
inclusive of tax backed bonds. Certain challenges will continue,
including limitations related to the hospital's small scale and
rural operating environment, and exposure to government
reimbursement.
The Baa1 GOULT rating reflects Curry Health District's core credit
quality, the dedicated tax-backed pledge, and Moody's assessments
of the economic base as A. The GOULT pledge provides the authority
to levy an unlimited ad valorem tax if needed, which supports a
higher instrument rating than the issuer rating.
The Ba1 GOLT rating reflects Curry Health District's fundamental
credit quality, and the full faith and credit pledge of the
district which encompasses all available revenues including a
limited tax pledge that is not dedicated for the debt.
RATING OUTLOOK
The stable outlook reflects Moody's expectations that Curry Health
District will maintain an EBIDA margin in the low double digit
range, days cash above 130, and leverage metrics consistent with
current levels.
FACTORS THAT COULD LEAD TO AN UPGRADE OF THE RATINGS
-- Sustained increase of days cash above 180 days
-- Significant taxable value growth along with improved resident
income levels
FACTORS THAT COULD LEAD TO A DOWNGRADE OF THE RATINGS
-- Sustained decline in EBIDA margins below 8%
-- Materially weaker liquidity and/or leverage measures
-- Material declines in patient volumes or a substantial loss of
market share
PROFILE
The district, also known as Curry Health Network, encompasses two
thirds of Curry County, which is 300 miles southwest of Portland.
The district owns and operates Curry General Hospital, an 18-bed
Critical Access Hospital in Gold Beach, Curry Medical Center in
Brookings, and two rural health clinics including Curry Family
Medical in Port Orford and Curry Medical West in Gold Beach. The
district provides healthcare services to patients in Curry County,
as well as other patients in the Southern Oregon Coastal area. The
district's estimated population is about 23,500.
METHODOLOGY
The principal methodology used in these ratings was Not-for-profit
Healthcare published in May 2026.
D.A.R. CARRIER: Seeks Subchapter V Bankruptcy in Illinois
---------------------------------------------------------
On July 30, 2026, D.A.R. Carrier, Inc. filed for Chapter 11
protection in the U.S. Bankruptcy Court for the Northern District
of Illinois. According to the court filing, the Debtor reports
between $1 million and $10 million in debt owed to between one and
49 creditors.
A meeting of creditors under Section 341(a) to be held on September
2, 2026 at 01:30 PM at Appear by Teams.
Subchapter V Plan Deadline Is October 28, 2026; Governmental Proof
of Claim Deadline Is January 26, 2027
About D.A.R. Carrier, Inc.
D.A.R. Carrier, Inc. is an Oak Lawn, Illinois-based long-distance
truckload carrier specializing in general freight transportation.
The company operates as a small-scale interstate trucking business
and uses late-model equipment to transport freight.
D.A.R. Carrier Inc. sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. N.D. Ill. Case No. 26-12659) on July 30,
2026, with $1 million to $10 million in both assets and
liabilities.
Judge David H. Decelles presides over the case.
Saulius Modestas, Esq., at Modestas Law Offices, P.C. represents
the Debtor as bankruptcy counsel.
DEAF SMITH COUNTY HOSPITAL: Moody's Assigns 'Ba2' Issuer Rating
---------------------------------------------------------------
Moody's Ratings has assigned a Ba2 issuer rating to Deaf Smith
County Hospital District, TX and downgraded the district's general
obligation limited tax (GOLT) bond rating to Baa2 from Baa1. The
outlook is stable. The GOLT rating downgrade to Baa2 concludes a
review for possible downgrade that was initiated on May 28, 2026
and reflects the application of the updated Not-for-profit
Healthcare methodology. The district has approximately $18.4
million of debt outstanding.
RATINGS RATIONALE
The Ba2 issuer rating reflects the district's very small operating
scale, rural market position and exposure to revenue volatility as
a standalone healthcare provider. The rating is constrained by
physician recruitment challenges, a limited rural economy,
below-average resident wealth and ongoing exposure to utilization
and reimbursement variability. Offsetting factors include improving
operating cash flow and strong liquidity of 312 days cash on hand
that provides close to 100% coverage of adjusted debt.
The Baa2 GOLT rating reflects the additional strength of the
district's dedicated ad valorem tax pledge, which supports
operations and debt service and provides substantial headroom under
the current levy. The district also benefits from a growing tax
base, although its economy remains characterized by a rural
profile, below-average resident wealth, and concentration in
agriculture, cattle production, and wind energy generation,
resulting in a Baa economy assessment.
RATING OUTLOOK
The stable outlook reflects Moody's views that the district will
maintain sound operating margins and liquidity; although patient
revenues still remain volatility and subject to volume variability,
payer mix exposure, and fluctuations in supplemental
reimbursement.
FACTORS THAT COULD LEAD TO AN UPGRADE OF THE RATINGS
-- Further increase in unrestricted liquidity along with a
significant reduction in leverage
-- Expansion of programs, or increased funding which lead to
higher margins and additional revenue
FACTORS THAT COULD LEAD TO A DOWNGRADE OF THE RATINGS
-- A material reduction in liquidity position
-- Persistent operating losses combined with a significant
reduction in federal, state, or tax revenues that do not align with
inflation and district's expense base
-- Material decline in assessed value not offset by higher levies
PROFILE
Deaf Smith County Hospital District is coterminous with Deaf Smith
County, in western Texas along the New Mexico-Texas border. The
2025 estimated county population was 18,500. The district operates
the Hereford Regional Medical Center, a designated Level IV trauma
center. The hospital has 42 licensed beds (15 staffed).
METHODOLOGY
The principal methodology used in these ratings was Not-for-profit
Healthcare published in May 2026.
DIOCESE OF CAMDEN: Aug. 18 Insurer Settlement Approval Hearing Set
------------------------------------------------------------------
The Diocese of Camden, New Jersey ("Diocese"), the debtor in the
bankruptcy proceeding, case number 20-21257, in the United States
Bankruptcy Court for the District of New Jersey ("Court") has
entered into Settlement Agreements (collectively "Agreements")
pursuant to 11 U.S.C. Secs. 105(a) and 363 and Fed. R. Bankr. P
2002(1), 6004(c), and 9019(a) with Underwriters at Lloyd's, London,
and certain London Market Insurance Companies (Catalina Worthing
Insurance Ltd f/k/a HFPI (as Part VII transferee of Excess
Insurance Company Ltd), RiverStone Insurance (UK) Limited (as
successor in interest to Terra Nova Insurance Company Ltd. and
Sphere Drake Insurance PLC), Tenecom Ltd. (f/k/a Yasuda Fire &
Marine Ins. Co. (UK) Ltd.), Union America Insurance Company, London
& Edinburgh Insurance Company Ltd (as successor in interest to
London & Edinburgh General Ins. Co. Ltd.), and Dominion Insurance
Company Ltd.), Interstate Fire & Casualty Company, National Surety
Corporation, and Century Indemnity Company, as successor to CCI
Insurance Company, as successor to Insurance Company of North
America, Insurance Company of North America, Federal Insurance
Company, and Illinois Union Insurance Company (collectively,
"Insurers").
On July 28, 2026, the Diocese filed a motion to approve the
Agreements ("Motion") in the Court. A hearing on the Motion shall
commence on August 18, 2026 at 11:00 a.m., before the Honorable
Jerrold N. Poslusny, Jr., United States Bankruptcy Judge, at the
United States Bankruptcy Court, Mitchell H. Cohen U.S. Courthouse,
400 Cooper Street, Camden, New Jersey 08101.
If the Motion is approved, then, as described more particularly in
the Agreements, the Diocese and certain non-debtor related entities
(collectively with the Diocese, the "DOC Entities") will sell, and
the Insurers will purchase, (a) all policies of insurance issued or
allegedly issued by the Insurers to the DOC Entities, whether known
or unknown at the time of the Agreements, including but not limited
to those policies identified in the Agreements, along with (b)
certain related Claims of the DOC Entities (collectively, and as
defined in the Settlement Agreements, the "Purchased Property").
THE DOC ENTITIES ARE SEEKING TO SETTLE AND SELL, FREE AND CLEAR OF
ALL LIENS, CLAIMS, ENCUMBRANCES, AND OTHER INTERESTS, THE PURCHASED
PROPERTY. THIS "FREE AND CLEAR" SALE OF THE PURCHASED PROPERTY
ENTAILS CERTAIN RELEASES, INJUNCTIONS, AND OTHER PROTECTIVE
PROVISIONS IN FAVOR OF THE INSURERS. AMONG OTHER THINGS, THE MOTION
PROPOSES A SETTLING INSURER INJUNCTION THAT PERMANENTLY ENJOINS ALL
PERSONS WHO HAVE HELD OR ASSERTED, OR MAY IN THE FUTURE HOLD OR
ASSERT, ANY CLAIMS FROM TAKING ANY ACTION, DIRECTLY OR INDIRECTLY,
FOR PURPOSES OF ASSERTING, ENFORCING, OR ATTEMPTING TO ASSERT OR
ENFORCE ANY BARRED CLAIM (AS DEFINED IN THE AGREEMENTS AND
INCLUDING CLAIMS AGAINST THE DOC ENTITIES ARISING OUT OF SEXUAL
ABUSE) AGAINST THE INSURERS, CERTAIN RELATED ENTITIES, OR THE
PROPERTY OR ASSETS OF EACH. THE DOC ENTITIES ARE SEEKING TO FULLY
RELEASE ANY CLAIMS AGAINST THE ABOVE-REFERENCED INSURER RELEASED
PARTIES ARISING FROM OR RELATED IN ANY WAY TO THE POLICIES,
INCLUDING ALL EXTRA-CONTRACTUAL CLAIMS. FURTHER, THE AGREEMENTS
SPECIFY THAT THE INSURERS WILL RECEIVE THE BENEFIT OF AN INJUNCTION
CHANNELING ALL CHANNELED CLAIMS (AS DEFINED IN THE AGREEMENTS),
INCLUDING CLAIMS FOR SEXUAL ABUSE, TO A TRUST UNDER THE CONFIRMED
PLAN, WHICH WILL ADMINISTER AND RESOLVE THE CHANNELED CLAIMS, AND
THE HOLDERS OF ALL SUCH CLAIMS WILL BE BARRED FROM TAKING ANY
ACTION AGAINST THE PROTECTED PARTIES OR INSURERS, INCLUDING
COMMENCING OR CONTINUING AN ACTION WITH RESPECT TO ANY CHANNELED
CLAIM; ENFORCING A JUDGMENT OR ORDER AGAINST THE PROTECTED PARTIES
OR INSURERS WITH RESPECT TO ANY CHANNELED CLAIM; CREATING OR
PERFECTING LIENS OF ANY KIND RELATING TO ANY CHANNELED CLAIM; AND
ASSERTING OR IMPLEMENTING ANY CHANNELED CLAIM AGAINST ANY OF THE
PROTECTED PARTIES OR INSURERS. THERE ARE ADDITIONAL PROVISIONS IN
THE AGREEMENTS -- BEYOND THOSE SET FORTH IN THE PRECEDING SENTENCES
-- WHICH SHOULD BE REVIEWED TO UNDERSTAND COMPLETELY THE AGREEMENTS
AND THEIR EFFECT ON YOUR RIGHTS.
Copies of the Motion may be obtained by contacting (a) Kroll at
https://cases.ra.kroll.com/camdendiocese/, camdeninfo@ra.kroll.com,
or Toll-Free: (877) 465-8420; Local: (347) 817-4096; or (b)
visiting the website of United States Bankruptcy Court for the
District of New Jersey at https:/www.njb.uscourts.gov/. A PACER
login and password are required to access documents on the
Bankruptcy Court's website and these can be obtained through the
PACER Service
Center at www.pacer.psc.uscourts.pov.
Any written objection to the Motion by a party other than the
Diocese, the Insurers, the committees appointed in the case, and
the parishes and other Catholic entities located within the
territory of the Diocese must be filed and served by August 11,
2026. Any written response must reference case number 20-21257;
state the specific facts upon which the objection is based; be
filed with the Clerk of the Court; provide proof of service that a
copy of the response was served on counsel for the Diocese, counsel
for the Official Committee of Tort Claimant Creditors, counsel for
the Official Committee of Unsecured Trade Creditors, and upon the
United States Trustee; and must also conform and be served in
accordance with the Local Rules for the Bankruptcy Court for the
District of New Jersey.
IF YOU HAVE (1) A CLAIM AGAINST THE DOC ENTITIES AS TO WHICH
INSURANCE COVERAGE IS OR MAY BE AVAILABLE, (2) AN INTEREST IN ANY
OF THE DOC ENTITIES' INSURANCE POLICIES OR CERTIFICATES, OR (3) ANY
CLAIMS AGAINST THE INSURERS RELATING TO THE FOREGOING, YOUR RIGHTS
MAY BE AFFECTED.
About The Diocese of Camden, NJ
The Diocese of Camden, New Jersey is a nonprofit religious
corporation organized pursuant to Title 16 of the Revised Statutes
of New Jersey. The Diocese is the secular legal embodiment of the
Roman Catholic Diocese of Camden, a juridic person recognized under
Canon Law.
The Diocese of Camden sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. D.N.J. Case No. 20-21257) on Oct. 1, 2020.
The petition was signed by Reverend Robert E. Hughes, vicar general
and vice president. At the time of the filing, the Debtor had total
assets of $53,575,365 and liabilities of $25,727,209.
Judge Jerrold N. Poslusny, Jr. oversees the case.
McManimon, Scotland & Baumann, LLC, is the Debtor's legal counsel.
DISH DBS: Clash w/ Creditors Over FCC Order's Impact on Ch. 11
--------------------------------------------------------------
Ben Zigterman of Law360 Bankruptcy Authority reports that Dish DBS
Corp. and its creditors squared off Tuesday, August 11, 2026, over
the consequences of a recent FCC order for the satellite-TV
company's bankruptcy case. Dish DBS contends that a $2.4 billion
trust established by parent EchoStar Corp. should receive
particular treatment in the Chapter 11, while creditors argued that
the regulatory order has different implications for the bankruptcy
estate.
The competing positions could affect how billions of dollars in
value are treated during the restructuring. Creditors are
challenging the debtor's interpretation as they seek to preserve
assets for distributions, while Dish DBS is defending its proposed
treatment of the trust and its broader restructuring strategy, the
report cites.
Dish DBS entered Chapter 11 in June with affiliates, seeking to
reorganize its DISH and Sling TV operations. The bankruptcy is part
of EchoStar's broader restructuring following the company's efforts
to sell wireless spectrum and reorganize its wireless operations,
according to report.
About Dish DBS Corp.
DISH DBS Corporation, through its subsidiaries, provides pay-TV
services under the DISH and Sling brands in the United States. The
company was founded in 1996 and is headquartered in Englewood,
Colorado. DISH DBS Corporation is a subsidiary of DISH Network
Corporation.
Dish DBS Corp. sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-90627) on June 30,
2026.
Honorable Bankruptcy Judge Christopher M. Lopez handles the case.
The Debtor is represented by Charles R. Koster, Esq. of White &
Case.
DREAM FINDERS: Moody's Puts 'B1' CFR on Review for Downgrade
------------------------------------------------------------
Moody's Ratings placed Dream Finders Homes, Inc.'s (DFH) B1
corporate family rating, B1-PD probability of default rating and B1
senior unsecured notes rating on review for downgrade. Previously,
the outlook was stable. The speculative grade liquidity rating
remains unchanged at SGL-3.
The rating action follows the announcement from August 7th that DFH
entered into a definitive agreement to acquire Beazer Homes USA,
Inc. (B2, review uncertain) in an all-cash transaction valued at
$2.2 billion. The transaction will be funded with a combination of
committed land banking capital from Kennedy Lewis, new preferred
equity, revolver borrowings and cash on hand.
"The addition of Beazer's land inventory significantly increases
DFH's scale, creating the 6th largest homebuilder in the US in
terms of home closings as of 2025," said Griselda Bisono,
VP-Ratings at Moody's Ratings. "Nonetheless, the combination with
Beazer represents a highly transformative acquisition for Dream
Finders and the company's largest acquisition since its founding,
bringing with it integration risk and modestly higher leverage,"
said Bisono. In addition, given Beazer's weak profitability over
the past 18 months, DFH's pro forma EBIT margin will decline to 7%
from 10% for the last twelve month period ended March 31, 2026.
Likewise, pro forma EBIT interest coverage will decline to 2.5x
from 3.2x.
RATINGS RATIONALE / FACTORS THAT COULD LEAD TO AN UPGRADE OR
DOWNGRADE OF THE RATINGS
The rating review will focus on the impact of the transaction on
Dream Finders Homes' capital structure, liquidity and forward
looking cash flow of the combined company. The review will also
consider the potential benefits of the combined firm's larger
scale, the broader opportunities for synergies and the costs of
achieving them. Moody's reviews will also focus on the outlook for
the broader US housing market in light of continued affordability
pressures.
Governance considerations are a key factor in this rating action
because the transaction signals greater tolerance for earnings
volatility, given Beazer's weak profitability and the challenging
demand environment.
Although currently unlikely given the review for downgrade, Dream
Finders Homes' ratings could be upgraded if debt to total
capitalization is maintained below 45%, EBIT interest coverage is
maintained above 4.5x and EBIT margin is sustained at or above 15%.
A ratings upgrade would also reflect maintenance of good liquidity
and sustained positive free cash flow to fund growth.
The ratings could be downgraded if debt to total capitalization
approaches 55%, EBIT interest coverage drops below 3.0x or if the
company's liquidity weakens. Also, a downgrade could result from
weakening industry conditions causing meaningful revenue and EBIT
margin declines.
The principal methodology used in these ratings was Homebuilding
and Property Development published in September 2025.
Dream Finders Homes, Inc. headquartered in Jacksonville, Florida,
is a homebuilder focused on the construction of entry-level and
move-up single-family homes. The company operates in several
markets within Florida, Texas, North Carolina, South Carolina,
Georgia, Colorado, Virginia, Maryland, Tennessee and Arizona. Pro
forma for the Beazer acquisition the company generated $6.1 billion
in sales in the twelve months ended March 31, 2026.
ECHOSTAR CORP: Dish Lenders Pursue Billions Over Boost Mobile Deal
------------------------------------------------------------------
James Nani of Bloomberg Law reports that the unsecured creditors of
Dish Wireless LLC have asked a Texas bankruptcy judge for
permission to pursue EchoStar Corp. and other insiders over a Boost
Mobile transaction they say stripped billions of dollars in value
from the wireless company. The creditors' committee filed an
emergency request August 7, 2026 accusing the parties of
transferring assets away from creditors.
The committee alleges that Dish's transfer of its Boost Mobile
subscriber business to insiders last 2025 was completed for
substantially less than the business was worth. It described the
consideration as "grossly inadequate" and said the transaction
formed part of a larger plan designed to move value out of Dish
Wireless and shield assets from creditor claims, the report
states.
According to Bloomberg, Dish Wireless filed for Chapter 11
protection in June as part of a prepackaged restructuring involving
the company and 17 affiliates. The case lists between $1 billion
and $10 billion in assets and $10 billion to $50 billion in
liabilities, while the restructuring is expected to facilitate the
monetization of EchoStar's wireless spectrum.
The creditors' committee wants to investigate and pursue potential
claims arising from the Boost Mobile deal. If authorized, the
lawsuit could seek to claw back billions of dollars that creditors
contend should have remained available to satisfy Dish Wireless's
obligations, the report relays.
About EchoStar Corporation
EchoStar Corporation (Nasdaq: SATS) -- www.echostar.com -- is a
provider of technology, networking services, television
entertainment, and connectivity, offering consumer, enterprise,
operator, and government solutions worldwide under its EchoStar,
Boost Mobile, Boost Infinite, Sling TV, DISH TV, Hughes, HughesNet,
HughesON, and JUPITER brands. In Europe, EchoStar operates under
its EchoStar Mobile Limited subsidiary, and in Australia, the
Company operates as EchoStar Global Australia.
As of March 31, 2026, the Company had $41.38 billion in total
assets and $35.7 billion in total liabilities, and total
stockholders' equity of $5.68 billion.
* * *
In Sept. 2025, S&P Global Ratings placed its 'CCC+' Company credit
rating on Echostar Corp. and all subsidiaries on CreditWatch with
positive implications. S&P also placed the issue-level ratings on
Echostar and all its subsidiaries' secured and unsecured debt on
CreditWatch with positive implications. S&P plans to resolve the
CreditWatch following close of the transaction, expected in
mid-2026.
ELECTRICITE DE FRANCE: Lord Abbett Marks $24.4MM Bond at 29% Off
----------------------------------------------------------------
Lord Abbett Investment Trust has marked its $24.4 million bond
investment in Electricite de France SA (France) to market at $17.3
million or 71% of the outstanding amount, according to Lord
Abbett's Form N-CSRS for the fiscal half-year ended Aug. 3, 2026,
filed with the U.S. Securities and Exchange Commission.
Lord Abbett is a participant in a bond investment in Electricite de
France. The bond accrues interest at 4.50% per annum and matures on
Dec. 4, 2069.
Lord Abbett Investment Trust is a registered management investment
company.
The Fund is led by Douglas B. Sieg as President and Chief Executive
Officer.
The Fund can be reached at:
Douglas B. Sieg
Lord Abbett Investment Trust
30 Hudson Street
Jersey City, NJ 07302-4804
Telephone: (888) 522-2388
About Electricite de France SA (France)
Electricite de France generates, supplies, and markets electricity
and energy services. The Company produces electricity, supplies
power and gas, provides energy services, and supports low-carbon
energy projects. The company serves residential, business,
industrial, local authority, and public customers in France and
international markets.
ELECTRICITE DE FRANCE: Lord Abbett Marks $24.4MM Bond at 29% Off
----------------------------------------------------------------
Lord Abbett Investment Trust has marked its $24.4 million bond
investment in Electricite de France SA (France) to market at $17.3
million or 71% of the outstanding amount, according to Lord
Abbett's N-CSRS for the fiscal half-year ended Aug. 3, 2026, filed
with the U.S. Securities and Exchange Commission.
Lord Abbett is a participant in a bond investment in Electricite de
France SA (France). The bond accrues interest at 4.50% per annum
and matures on Dec. 4, 2069.
Lord Abbett Investment Trust is a registered management investment
company.
The Fund is led by Douglas B. Sieg as President and Chief Executive
Officer.
The Fund can be reached at:
Douglas B. Sieg
Lord Abbett Investment Trust
30 Hudson Street
Jersey City, NJ 07302-4804
Telephone: (888) 522-2388
About Electricite de France SA (France)
Electricite de France generates, supplies, and markets electricity
and energy services. The Company produces electricity, supplies
power and gas, provides energy services, and supports low-carbon
energy projects. The company serves residential, business,
industrial, local authority, and public customers in France and
international markets.
ELECTRICITE DE FRANCE: Lord Abbett Marks $5.6MM Bond at 29% Off
---------------------------------------------------------------
Lord Abbett Investment Trust has marked its $5.6 million position
in a bond investment in Electricite de France SA (France) to market
at $4.0 million or 71% of the outstanding amount, according to Lord
Abbett's N-CSRS for the fiscal quarter ended Aug. 3, 2026, filed
with the U.S. Securities and Exchange Commission.
Lord Abbett is a participant in a loan extended to Electricite de
France SA (France). The bond accrues interest at 4.50% per annum.
The bond matures on Dec. 4, 2069.
Lord Abbett Investment Trust is a registered management investment
company.
The Fund is led by Douglas B. Sieg as President and Chief Executive
Officer.
The Fund can be reached at:
Douglas B. Sieg
Lord Abbett Investment Trust
30 Hudson Street
Jersey City, NJ 07302-4804
Telephone: (888) 522-2388
About Electricite de France SA (France)
Electricite de France generates, supplies, and markets electricity
and energy services. The Company produces electricity, supplies
power and gas, provides energy services, and supports low-carbon
energy projects.
EMBECTA CORP: New Mountain Marks $3.7MM Bond 20% Off
----------------------------------------------------
New Mountain Finance Corp has marked its $3,765,000 bond to Embecta
Corp. to market at $3,000,000 or 80% of the outstanding amount,
according to New Mountain's 10-Q for the fiscal quarter ended Aug.
3, 2026, filed with the U.S. Securities and Exchange Commission.
New Mountain is a participant in a loan extended to Embecta Corp.
The bond accrues interest at 6.73% per annum. The bond matures in
March 2029.
New Mountain Finance Corp is a closed-end, externally managed,
non-diversified management investment company that operates as a
business development company, primarily investing in middle-market
companies in the United States.
The Fund is led by John R. Kline as President, Chief Executive
Officer (Principal Executive Officer) and Director.
The Fund can be reached at:
John R. Kline
New Mountain Finance Corporation
1633 Broadway, 48th Floor
New York, NY 10019
Telephone: (212) 720-0300
About Embecta Corp.
Limited information about Embecta Corp. was available from the
fund's filing.
EMERALD TECHNOLOGIES: Capital Southwest Marks $3.4M Loan at 35% Off
-------------------------------------------------------------------
Capital Southwest Corp. has marked its $3.4 million first lien term
B loan to Emerelad Technologies (U.S.) Acquisition Co. Inc. to
market at $2.2 million or 65% of the outstanding amount, according
to Capital Southwest's 10-Q for the fiscal quarter ended Aug. 3,
2026, filed with the U.S. Securities and Exchange Commission.
Capital Southwest is a participant in a loan extended to Emerelad
Technologies (U.S.) AcquisitionCo. Inc. The first lien - term B
loan accrues interest at 10.13% per annum. The first lien - term B
loan matures on Dec. 31, 2029.
Capital Southwest Corp. is a business development company that
provides financing solutions to middle-market businesses.
The Fund is led by Michael S. Sarner as President and Chief
Executive Officer.
The Fund can be reached at:
Michael S. Sarner
Capital Southwest Corp.
8333 Douglas Avenue, Suite 1100
Dallas, TX 75225
Telephone: (214) 238-5700
About Emerelad Technologies (U.S.)
AcquisitionCo. Inc.
Emerald Technologies (U.S.) Acquisitionco, Inc. provides
electronics manufacturing services.
EXCELIN HOME: OFS Capital Marks $7.1MM 2L Debt at 43% Off
---------------------------------------------------------
OFS Capital Corp has marked its $7.1 million second lien debt to
Excelin Home Health, LLC to market at $4.1 million or 57% of the
outstanding amount, according to OFS Capital's 10-Q for the fiscal
quarter ended July 31, 2026, filed with the U.S. Securities and
Exchange Commission.
OFS Capital is a participant in a loan extended to Excelin Home
Health, LLC. The second lien debt accrues interest at 18.00% PIK
per annum. The second lien debt matures on October 1, 2026.
OFS Capital Corp is a business development company that provides
debt and equity financing solutions to middle-market companies in
the United States.
The Fund is led by Bilal Rashid as Chief Executive Officer.
The Fund can be reached at:
Bilal Rashid
OFS Capital Corp
222 W. Adams Street, Suite 1850
Chicago, IL 60606
Telephone: (847) 734-2000
About Excelin Home Health, LLC
Excelin Health (operating as Excelin Home Health, LLC) is a
US-based healthcare provider headquartered in Dallas/Irving,
Texas.
EXCELIN HOME: OFS Capital Marks $7.8MM 2L Debt at 75% Off
---------------------------------------------------------
OFS Capital Corp has marked its $7.8 million second lien debt
position in Excelin Home Health, LLC to market at $2.0 million or
25% of the outstanding amount, according to OFS Capital's Form 10-Q
for the fiscal quarter ended July 31, 2026, filed with the U.S.
Securities and Exchange Commission.
OFS Capital is a participant in a loan extended to Excelin Home
Health, LLC. The second lien debt accrues interest at 18.00% PIK
per annum. The second lien debt matures on October 1, 2026.
OFS Capital Corp is a business development company that provides
debt and equity financing solutions to middle-market companies in
the United States.
The Fund is led by Bilal Rashid as Chief Executive Officer.
The Fund can be reached at:
Bilal Rashid
OFS Capital Corp
222 W. Adams Street, Suite 1850
Chicago, IL 60606
Telephone: (847) 734-2000
About Excelin Home Health, LLC
Excelin Health Health, LLC owns and operates several quality home
health agencies across the country and is a network of dedicated
home health and hospice providers.
FASTBOATS.COM SALES: Case Summary & 18 Unsecured Creditors
----------------------------------------------------------
Debtor: Fastboats.com Sales Company, LLC
d/b/a FB Marine Group
2311 SW 31st St
Fort Lauderdale, FL 33312
Business Description: Fastboats.com Sales Company, LLC, doing
business as FB Marine Group, is a family-owned marine dealership
based in Fort Lauderdale, Florida. The company provides boat and
yacht sales, brokerage, parts and financing, along with marine
maintenance, repair, repower, refit, and vessel-management
services. It also provides marine products and services to
recreational customers, professional captains, and local, state,
and federal government agencies.
Chapter 11 Petition Date: August 5, 2026
Court: United States Bankruptcy Court
Southern District of Florida
Case No.: 26-20393
Debtor's Counsel: Jason E. Slatkin, Esq.
LORIUM LAW
100 NE 3rd Ave., Suite 700
Fort Lauderdale, FL 33301
Tel: 954-462-8000
E-mail: jslatkin@loriumlaw.com
Total Assets: $1,726,597
Total Liabilities: $2,599,654
The petition was signed by Kim A. Sweers as manager.
A full-text copy of the petition, which includes a list of the
Debtor's 18 unsecured creditors, is available for free on
PacerMonitor at:
https://www.pacermonitor.com/view/H54L2GI/Fastboatscom_Sales_Company_LLC__flsbke-26-20393__0001.0.pdf?mcid=tGE4TAMA
FINCH THERAPEUTICS: Plan Confirmation Hearing Scheduled for Sept. 1
-------------------------------------------------------------------
On July 24, 2026, Finch Therapeutics Group, Inc. and its affiliated
debtors (the "Debtors") filed the First Amended Combined Disclosure
Statement and Joint Chapter 11 Plan of Finch Therapeutics Group,
Inc. and its Debtors Affiliates (the "Combined Disclosure Statement
and Plan"). Pursuant to an Order dated July 24, 2026 (the
"Conditional Approval and Procedures Order"), the Bankruptcy Court
conditionally approved the Combined Disclosure Statement and Plan
for solicitation purposes only.
A combined hearing to consider the Combined Disclosure Statement
and Plan (the "Combined Hearing") will be held before the Honorable
Laurie Selber Silverstein, in the United States Bankruptcy Court
for the District of Delaware, 824 North Market Street, 6th Floor,
Courtroom 2, Wilmington, Delaware 19801, on September 1, 2026, at
10:00 a.m. (ET).
Objections to confirmation of the Combined Disclosure Statement and
Plan, including any objection to the adequacy of the disclosures,
if any, must: (a) be in writing; (b) state the name and address of
the objecting party and the nature of the Claim or Interest held by
such party; and (c) be filed with the Bankruptcy Court and served
so as to be actually received by the following parties by 4:00 p.m.
(prevailing Eastern Time) on August 25, 2026:
i. co-counsel to the Debtors, Ropes & Gray LLP, 1211 Avenue of
the Americas, New York, NY 10036 (Attn: Cristine Pirro Schwarzman
and Cameron J. Cavalier; email: cristine.schwarzman@ropesgray.com
and cameron.cavalier@ropesgray.com) and Chipman Brown Cicero & Cole
LLP, 1313 N. Market Street, Suite 5400, Wilmington, DE 19801 (Attn:
Robert A. Weber; email: weber@chipmanbrown.com) and Chipman Brown
Cicero & Cole LLP, 420 Lexington Avenue, Suite 442, New York, NY
10170 (Attn: Daniel G. Egan; email: egan@chipmanbrown.com); and
ii. the Office of the United States Trustee for the District of
Delaware, 844 King Street, Suite 2207, Lock Box 35, Wilmington, DE
19801 (Attn: Joseph McMahon; email: joseph.mcmahon@usdoj.gov).
The Debtors reserve the right to file a consolidated reply to any
such objection no later than August 28, 2026, at 4:00 p.m. (ET).
Pursuant to the Conditional Approval and Procedures Order, the
Bankruptcy Court approved the use of certain materials in the
solicitation of votes to accept or reject the Combined Disclosure
Statement and Plan and certain procedures for the tabulation of
votes to accept or reject the Combined Disclosure Statement and
Plan. If you are a holder of an Interest in the Debtors as of July
15, 2026 (the "Voting Record Date") and entitled to vote, you have
received with this Notice a ballot form (a "Ballot") and
instructions for completing the Ballot. Please note that only
holders of Class 5 FTG Equity Interests are entitled to vote on the
Combined Disclosure Statement and Plan.
For a vote to accept or reject the Combined Disclosure Statement
and Plan to be counted, the holder of a Ballot 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 4:00 p.m., (prevailing Eastern Time), on August 24,
2026 (the "Voting Deadline"). Any failure to follow the
instructions included with the Ballot or to return a properly
completed Ballot so that it is received by the Voting Deadline may
disqualify such Ballot and vote on the Combined Disclosure
Statement and Plan. The rules and procedures for the tabulation of
the votes are outlined in the Conditional Approval and Procedures
Order.
Except to the extent a Holder of an Allowed Claim or Interest
agrees to a less favorable treatment, such Holder shall receive,
under the Combined Disclosure Statement and Plan, the treatment
described in Article V in full and final satisfaction, settlement,
and release of and in exchange for such Holder’s Allowed Claim or
Interest.
Copies of the Combined Disclosure Statement and Plan and the
Conditional Approval and Procedures Order are available for review
without charge at the website maintained by the Claims and
Balloting Agent,
https://omniagentsolutions.com/FinchTherapeutics-Ballots or by
calling (888) 204-0751 (US & Canada toll-free) and (747) 288-6369
(International), by email at
finchtherapeuticsinquiries@omniagnt.com, or by using the QR Code
below. Please be advised that Omni is authorized to answer
questions and provide additional copies of solicitation materials
but may not advise you as to whether you should object to the Plan.
About Finch Therapeutics Inc.
Finch Therapeutics Inc. is a company developing microbiome-based
health treatments.
Finch Therapeutics sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr D. Del. 26-10410) on March 22, 2026. In its
petition, the Debtor reports estimated assets and liabilities
between $1 million and $10 million each.
Honorable Bankruptcy Judge Laurie Selber Silverstein handles the
case.
The Debtor is represented by Aaron Bach, Esq. and Robert Alan
Weber, Esq., of Chipman Brown Cicero & Cole, LLP.
FLASH CHARM: New Mountain Marks $10.3MM Loan 22% Off
----------------------------------------------------
New Mountain Finance Corp has marked its $10,334,000 loan to Flash
Charm, Inc. to market at $8,067,000 or 78% of the outstanding
amount, according to New Mountain's 10-Q for the fiscal quarter
ended Aug. 3, 2026, filed with the U.S. Securities and Exchange
Commission.
New Mountain is a participant in a loan extended to Flash Charm.
The loan accrues interest at 7.16% per annum and matures in March
2028.
New Mountain Finance Corp is a closed-end, externally managed,
non-diversified management investment company that operates as a
business development company, primarily investing in middle-market
companies in the United States.
The Fund is led by John R. Kline as President, Chief Executive
Officer (Principal Executive Officer) and Director.
The Fund can be reached at:
John R. Kline
New Mountain Finance Corporation
1633 Broadway, 48th Floor
New York, NY 10019
Telephone: (212) 720-0300
About FLASH CHARM, INC.
Limited information is available about Flash Charm, Inc. from the
filing.
FLASH CHARM: New Mountain Marks $6.1MM Loan 22% Off
---------------------------------------------------
New Mountain Finance Corp has marked its $6,196,000 loan to Flash
Charm, Inc. to market at $4,837,000 or 78% of the outstanding
amount, according to New Mountain's 10-Q for the fiscal quarter
ended Aug. 3, 2026, filed with the U.S. Securities and Exchange
Commission.
New Mountain is a participant in a loan extended to Flash Charm.
The loan accrues interest at 7.16% per annum and matures in March
2028.
New Mountain Finance Corp is a closed-end, externally managed,
non-diversified management investment company that operates as a
business development company, primarily investing in middle-market
companies in the United States.
The Fund is led by John R. Kline as President, Chief Executive
Officer (Principal Executive Officer) and Director.
The Fund can be reached at:
John R. Kline
New Mountain Finance Corporation
1633 Broadway, 48th Floor
New York, NY 10019
Telephone: (212) 720-0300
About FLASH CHARM, INC.
Limited information is available about Flash Charm, Inc. from the
filing.
FLECK REAL ESTATE: Todd Hennings Named Subchapter V Trustee
-----------------------------------------------------------
The Acting U.S. Trustee for Region 21 appointed Todd Hennings,
Esq., at Macey, Wilensky & Hennings, LLP as Subchapter V trustee
for Fleck Real Estate Holding Group LLC.
Mr. Hennings will be paid an hourly fee of $450 for his services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.
Mr. Hennings declared that he is a disinterested person according
to Section 101(14) of the Bankruptcy Code.
The Subchapter V trustee can be reached at:
Todd E. Hennings, Esq.
Macey, Wilensky & Hennings, LLP
5500 Interstate North Parkway, Suite 435
Sandy Springs, GA 30328
Phone: (404) 584-1222
Email: info@joneswalden.com
About Fleck Real Estate Holding Group LLC
Fleck Real Estate Holding Group, LLC filed a petition under Chapter
11, Subchapter V of the Bankruptcy Code (Bankr. N.D. Ga. Case No.
26-60289) on August 3, 2026, with $100,001 to $500,000 in assets
and $0 to $50,000 in liabilities.
FORTUNA STONEWORKS: Unsecureds to Get Share of Income for 36 Months
-------------------------------------------------------------------
Fortuna Stoneworks, LLC, filed with the U.S. Bankruptcy Court for
the Northern District of Georgia a Plan of Reorganization dated
August 3, 2026.
The Debtor is a stone fabrication and installation company serving
East Tennessee, North Alabama, and North Georgia. The business
previously operated under the name Creative Surfaces.
Current management purchased the company around November 2021 and
increased annual revenue from approximately $1.1 million to $2.6
million. The company also purchased real property located at 155
Hunt Drive, Rossville, Georgia, to serve as its operating base.
Before filing bankruptcy, the company lost its largest customer,
which accounted for approximately 65–70% of its business and was
withholding approximately $90,000 owed to the company. The
resulting decline in revenue left the debtor unable to meet its
operating obligations and debt service, including payments related
to the property, leading it to seek bankruptcy protection to
reorganize its business.
The debtor's sole member is Chakraborty Group, LLC.
Class 16 consists of General Unsecured Claims, including any
potential deficiency claims. If the plan is confirmed under Section
1191(a) of the Bankruptcy Code:
* General unsecured creditors will receive their pro rata share of
the debtor's disposable income over 36 months.
* Payments will be made quarterly, beginning on the first business
day of the first full quarter after the effective date, for a total
of 12 quarterly payments.
* Payments will be mailed to the creditor's address on its proof
of claim or bankruptcy schedules unless a change of address is
filed.
* Checks that are returned as undeliverable or are not deposited
within 180 days will become void, and the funds may be retained by
the debtor.
* The debtor reports total allowed unsecured claims of
$1,201,806.57.
If the plan is confirmed under Section 1191(b) of the bankruptcy
Code, Class 16 will receive the same treatment.
The plan also provides that any claim will be reduced by payments
the creditor receives from third parties or other obligors, with
the debtor's obligation reduced accordingly. Because Class 16
claims are impaired, creditors in this class are entitled to vote
on the plan.
Class 17 consists solely of Chakraborty Group, LLC, which will
retain its ownership interest as the sole member of the reorganized
debtor.
Funding and Property
The plan will be funded through:
* The debtor's continued business operations.
* The sale of its real property.
Unless otherwise provided in the plan, upon confirmation all estate
property (other than abandoned property) will revest in the debtor
free and clear of claims, liens, charges, encumbrances, rights, and
interests, except as specifically provided in the plan.
After confirmation, the debtor is authorized to sell or refinance
all or part of its assets, including its real property, free and
clear of liens, claims, and encumbrances under the plan's sale
procedures. If secured property is sold or refinanced:
The sale or refinancing of the entire property must generate at
least enough to satisfy the outstanding allowed secured claims, or
another amount agreed to by the debtor and the secured creditor.
The same standard applies to the sale or refinancing of only a
portion of the property, unless another amount is agreed upon by
the debtor and the secured creditor.
A full-text copy of the Plan of Reorganization dated August 3, 2026
is available at https://urlcurt.com/u?l=GHXtMg from
PacerMonitor.com at no charge.
Counsel to the Debtor:
Will B. Geer, Esq.
Rountree, Leitman, Klein & Geer, LLC
Century Plaza I
2987 Clairmont Road, Suite 350
Atlanta, GA 30329
Telephone: (404) 584-1238
Email: wgeer@rlkglaw.com
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.
FRANCESCA'S ACQUISITION: Creditors to Get Proceeds from Liquidation
-------------------------------------------------------------------
Francesca's Acquisition LLC and affiliates filed with the U.S.
Bankruptcy Court for the District of New Jersey an Amended Combined
Disclosure Statement and Joint Plan of Liquidation dated August 3,
2026.
Francesca's Acquisition LLC and its affiliates were a specialty
retailer of women's apparel and accessories serving Gen Z and
multigenerational customers through approximately 400 stores across
45 states and an e-commerce website. Founded in Houston in 1999,
the company expanded rapidly, reaching about 200 stores by 2010 and
completing an initial public offering in 2011.
The company filed for Chapter 11 bankruptcy due to a combination of
internal and external challenges. Internal issues included
liquidity constraints and significant cash needs following a prior
restructuring. External pressures included changes in the retail
industry, increased online competition, supply chain disruptions,
and inflation-driven increases in costs.
During the bankruptcy proceedings, the court approved chain-wide
store closing sales, despite objections from landlords, the
Creditors' Committee, and certain government entities. The parties
also participated in mediation regarding cash collateral and other
issues, ultimately reaching a Global Settlement that was reflected
in proposed court orders.
The Bankruptcy Court approved the sale of the company's
intellectual property assets for $7 million to the stalking horse
bidder. The sale included trademarks, copyrights, domain names,
social media accounts, brand and product design materials, customer
data, toll-free phone numbers, and goodwill.
The proposed Chapter 11 plan provides for an orderly liquidation of
the business. By confirmation, the company expects to have
completed the intellectual property sale and liquidated its
inventory through court-approved store closing sales. Proceeds will
be placed into a Liquidating Trust, with:
* Administrative and priority claims paid in full.
* General unsecured creditors (Class 4) receiving pro rata
distributions from the remaining Liquidating Trust proceeds after
senior claims are satisfied.
* Equity interests (Class 6) cancelled without any recovery.
The plan also proposes limited substantive consolidation of the
debtors for voting and distribution purposes. If approved by the
court, claims against multiple debtors will be treated as a single
claim, guarantees between debtors will be eliminated, and
liabilities will be consolidated for distribution purposes.
On the plan's effective date, all remaining assets, including legal
claims, will be transferred to a Liquidating Trust. A Liquidating
Trustee, selected by the Creditors' Committee, will manage the
trust, liquidate remaining assets, pursue causes of action if
appropriate, and distribute proceeds to creditors according to the
confirmed plan and related agreements.
A full-text copy of the Combined Disclosure Statement and Plan
dated August 3, 2026 is available at https://urlcurt.com/u?l=T5PsDo
from PacerMonitor.com at no charge.
Counsel for the Debtors:
Jeffrey M. Rosenthal, Esq.
Vincent J. Roldan, Esq.
Katie F. Warren, Esq.
MANDELBAUM BARRETT PC
3 Becker Farm Road, Suite 105
Roseland, NJ 07068
Telephone: (973) 736-4600
Facsimile: (973) 325-7467
E-mail: jrosenthal@mblawfirm.com
vroldan@mblawfirm.com
kwarren@mblawfirm.com
FOX ROTHSCHILD LLP
Joseph J. DiPasquale, Esq.
Michael R. Herz, Esq.
Agostino A. Zammiello, Esq.
49 Market Street
Morristown, NJ 07960
(973) 992-4800 (Telephone)
(973) 992-9125 (Facsimile)
Email: jdipasquale@foxrothschild.com
mherz@foxrothschild.com
azammiello@foxrothschild.com
About Francesca's Acquisition LLC
Francesca's Acquisition LLC is a privately held retail enterprise
that operates the francesca's and franki by francesca's boutique
chains, headquartered in Houston, Texas. The company's boutiques
offer a curated mix of women's fashion, accessories, jewelry, and
lifestyle products, combining a boutique shopping experience with
e-commerce convenience. The business was relaunched under this
entity after the francesca's brand was sold out of bankruptcy
proceedings in 2021.
Francesca's Acquisition LLC sought relief under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. D.N.J. Case No. 26-11312) on February
5, 2026. In its petition, the Debtor reports estimated assets and
liabilities between $10 million and $50 million each.
Honorable Bankruptcy Judge Mark Edward Hall handles the case.
The Debtor is represented by Vincent J. Roldan, Esq., of Mandelbaum
Salsburg PC.
G & S SHIPPING: Seeks Subchapter V Bankruptcy in New York
---------------------------------------------------------
On July 31, 2026, G & S Shipping, Inc. filed for Chapter 11
protection in the Eastern District of New York. According to court
filings, the Debtor reports between $500,000 and $1 million in debt
owed to between 1 and 49 creditors.
A meeting of creditors under Section 341(a) to be held on August
31, 2026 at 01:00 PM at Zoomgov - Scott: Zoom.us/join, Meeting ID
165 709 83156, Passcode 1552875627, Phone 1 202 810-1577.
Small Business Chapter 11 Plan, Disclosure Statement Due January
27, 2027.
About G & S Shipping, Inc.
G & S Shipping, Inc. is a Queens Village, New York-based real
estate investment and management company operating as a
single-asset real estate business. The company manages a commercial
or mixed-use property located at 109-73 Francis Lewis Blvd. in
Queens, New York.
G & S Shipping, Inc. sought relief under Subchapter V of Chapter 11
of the U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 26-43692) on
July 31, 2026. In its petition, the Debtor reports estimated assets
of $500,000 to $1 million and estimated liabilities of $500,000 to
$1 million.
Honorable Elizabeth S. Stong handles the case.
The Debtor is represented by Jjais A. Forde, Esq. of Law Offices of
Jjais A. Forde, PLLC.
GAINS INTERMEDIATE: Capital Southwest Marks $7M 1L Loan at 57% Off
------------------------------------------------------------------
Capital Southwest Corp. has marked its $7.4 million first lien term
loan B to Gains Intermediate LLC to market at $3.2 million or 43%
of the outstanding amount, according to Capital Southwest's 10-Q
for the fiscal quarter ended August 3, 2026, filed with the U.S.
Securities and Exchange Commission.
Capital Southwest is a participant in a loan extended to Gains
Intermediate LLC. The first lien term loan B accrues interest at
8.95% per annum and matures on December 15, 2027.
Capital Southwest Corp. is a business development company that
provides financing solutions to middle-market businesses.
The Fund is led by Michael S. Sarner as President and Chief
Executive Officer.
The Fund can be reached at:
Michael S. Sarner
Capital Southwest Corp.
8333 Douglas Avenue, Suite 1100
Dallas, TX 75225
Telephone: (214) 238-5700
About Gains Intermediate, LLC
Gains Intermediate, LLC is a private equity-backed portfolio
company that specializes entirely in the health, fitness, and
wellness coaching industry.
GAINWELL HOLDING: Moody's Upgrades CFR to B3, Outlook Stable
------------------------------------------------------------
Moody's Ratings upgraded Gainwell Holding Corp.'s ("Gainwell")
corporate family rating to B3 from Caa1, and probability of default
rating to B3-PD from Caa1-PD. Concurrently, Moody's assigned a B2
rating to the proposed amended backed senior secured first-lien
credit facility consisting of a $380 million revolving credit
facility expiring 2031 and a term loan B due 2031 issued by
Gainwell Acquisition Corp. The outlook for both entities is stable.
Based in Irving, Texas, Gainwell provides software and managed
services to state health and human services ("HHS") agencies,
namely Medicaid, in the US.
Moody's reviewed all ratings on existing senior secured debt
instruments and took no action on them. The existing senior secured
debt instrument ratings will be withdrawn when the proposed
refinancing transaction closes.
Net proceeds from the proposed term loan and other senior secured
debt will be used to repay existing debt. The transaction is
leverage neutral and extends the company's debt maturities by five
years. The assigned ratings are subject to review of final
documents.
The upgrade reflects Gainwell's improved liquidity and extended
maturities. It also reflects Moody's expectations that Gainwell
will continue to generate mid-single digit revenue growth and
improve its credit metrics. Moody's expects leverage to decline to
approximately 7.5x debt/EBITDA (Moody's adjusted, expensing
capitalized software costs) over the next 12 to 18 months from 8.7x
as of March 31, 2026. Gainwell's effective execution of its ongoing
cost reduction program will remain a key driver of improved
operating performance.
All financial metrics cited reflect Moody's standard adjustments,
unless otherwise noted.
RATINGS RATIONALE
The B3 CFR reflects Gainwell's highly leveraged capital structure
and elevated interest burden, which, despite improving
profitability, continue to constrain free cash flow generation. FCF
to debt improved to 0.3% at fiscal year-end March 31, 2026 from
0.2% at fiscal year end March 31, 2025. Moody's expects gradual
improvement in leverage and cash flow as Medicaid spending rises
and there is an increased emphasis on cost savings by Gainwell's
customers; however, execution of the company's cost reduction
program remains critical to offset high interest expense,
particularly if interest rates remain elevated. Recent federal
legislation has contributed to lower Medicaid enrollment and
reimbursement pressure, introducing longer term uncertainty and
accelerating a shift toward compliance and integrity driven revenue
streams, a higher margin but lower revenue share of Gainwell's
business.
The rating is supported by Gainwell's large scale, solid
profitability, with EBITDA margins in the low 30% range, and its
leading position in the Medicaid Enterprise Systems (MES) market,
characterized by long term contracts that provide revenue
visibility. Gainwell's reliance on federally funded programs
exposes it to regulatory and funding concentration risk, including
potential pricing pressure and volume volatility. While MES is a
mature, modest growth market, faster growth is expected from
Coordination of Benefits (COB), Payment Integrity (PI), and newer
offerings in Eligibility and Enrollment, analytics, and related
solutions, albeit within an increasingly competitive environment.
Moody's considers Gainwell's liquidity to be adequate, supported by
a cash balance of $48 million as of March 31, 2026, and an undrawn
$380 million revolving credit facility expiring in 2031. Moody's
expect the company's free cash flow will continue to improve and
project free cash flow/debt to increase to low single digits over
the next 12 to 15 months. The single financial covenant, for the
benefit of revolving lenders only, provides ample cushion at a
maximum 8.2x net first-lien leverage. The test is only applicable
when over 35% of the revolving credit facility is drawn. Moody's do
not anticipate the revolver to be drawn over the next 12 months,
but if tested Moody's expects the company to remain well in
compliance.
The B2 rating on the senior secured first lien credit facility
reflects its senior position in the capital structure and loss
absorption support provided by the $1.46 billion senior secured
second lien term loan.
The stable outlook reflects Moody's expectations of organic revenue
and EBITDA growth in the mid-single digit percentage range over the
next 12-18 months. Moody's also expects that Gainwell will continue
to gradually de-lever with debt/EBITDA approaching 7.5x over the
next 12 to 18 months.
A comprehensive review of all credit ratings for the respective
issuer(s) has been conducted during a rating committee.
FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS
Moody's could upgrade Gainwell's ratings if the company continues
to diversify its revenue base beyond core MES projects and sustains
revenue growth rates above low single digits with margin expansion,
while maintaining good liquidity and exhibiting more conservative
financial policies. Metrics that could support a higher rating
include debt/EBITDA sustained below 6.0x, EBITA/interest expense
sustained above 2.0x, and free cash flow to debt sustained at 5% or
better.
Moody's could downgrade Gainwell's ratings if operating performance
weakens, as evidenced by revenue growth slowing or declining and
free cash flow falling below breakeven levels. The ratings could
also be downgraded if operating challenges or more aggressive
financial policy leads to debt/EBITDA sustained above 8.5x,
EBITA/interest sustained below 1.2x, or liquidity deteriorates.
The principal methodology used in these ratings was Business and
Consumer Services published in February 2026.
Gainwell, controlled by private equity firm Veritas Capital,
provides software and managed services to state HHS agencies in the
US. The company generates the majority of its revenue from
long-term contracts with Medicaid agencies that outsource the
operation and management of their Medicaid Management Information
Systems to the company, which is the claims processing system of
record and analytics support system for Medicaid. Gainwell is the
primary MES provider to 33 US states and territories. In addition
to core MES, Gainwell also provides COB, PI, E&E and other adjacent
services. The company generated over $2.8 billion of revenue in
fiscal 2026.
GENESIS HEALTHCARE: Judge Allows Sidley to Advise in Ch. 11 Suits
-----------------------------------------------------------------
Emlyn Cameron of Law360 Bankruptcy Authority reports that Sidley
Austin LLP can represent Genesis Healthcare in adversary litigation
stemming from the nursing home operator's Chapter 11 case, a Texas
bankruptcy judge ruled Tuesday, August 11, 2026. The judge rejected
an effort to prevent the law firm from serving as counsel based on
alleged conflicts involving its previous work for Genesis.
A Genesis shareholder had asked the court to disqualify Sidley,
arguing that the firm previously advised the company on a
transaction that is now at the center of an adversary lawsuit. The
shareholder has accused Genesis of manipulating the deal, which
allegedly resulted in a $50 million loss, the report relays.
The court's decision permits Sidley to continue advising Genesis in
the related bankruptcy litigation. The ruling represents a setback
for the shareholder's effort to remove the firm from the case while
Genesis continues its Chapter 11 proceedings, according to report.
About Genesis Healthcare Inc.
Based in Culver City, Calif., Genesis Healthcare Inc. is a medical
group that provides physician services in Southern California.
Genesis Healthcare has operated under the names Daehan Prospect
Medical Group and Prospect Genesis Healthcare.
Genesis Healthcare Inc. and several affiliated debtors sought
relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D.
Tex. Lead Case 25-80185) on July 9, 2025. In its petition, Genesis
Healthcare Inc. listed between $1 billion and $10 billion in
estimated assets and liabilities.
The Hon. Bankruptcy Judge Stacey G. Jernigan handles the jointly
administered cases.
The Debtors employed McDermott Will & Schulte LLP as counsel;
Jefferies LLC as investment banker; and Ankura Consulting Group,
LLC, as restructuring advisors, and designated Louis E. Robichaux
IV and Russell A. Perry as co-chief restructuring officers. Katten
Muchin Rosenman LLP serves as special counsel at the sole direction
of Jonathan Foster and Elizabeth LaPuma in their capacity as
independent directors and members of the special investigation
committee.
The U.S. Trustee appointed an official committee of unsecured
creditors in the Chapter 11 cases of Genesis Healthcare Inc. and
affiliates. The committee retained Proskauer Rose LLP and Stinson
LLP as its co-counsel; FTI Consulting, Inc., as its financial
advisors; and Houlihan Lokey Capital, Inc. as its investment
banker.
GENESIS HEALTHCARE: Plan Confirmation Hearing Scheduled for Oct. 6
------------------------------------------------------------------
Judge Stacey G. Jernigan of the U.S. Bankruptcy Court for the
Northern District of Texas approved the Disclosure Statement for
the Amended Joint Chapter 11 Plan of Genesis Healthcare, Inc. and
its Debtor Affiliates.
The Disclosure Statement contains "adequate information" within the
meaning of Bankruptcy Code section 1125 and is approved in all
respects on a final basis pursuant to Bankruptcy Code section 1125
and Bankruptcy Rule 3017(b).
The Voting Record Date for purposes of determining (a) creditors
and equity holders entitled to receive Solicitation Packages and
related materials, if any, and (b) creditors entitled to vote to
accept or reject the Plan and the creditors' corresponding claims
shall be July 28, 2026.
The deadline for filing and serving motions pursuant to Bankruptcy
Rule 3018(a) seeking temporary allowance of claims for the purpose
of accepting or rejecting the Plan ("Rule 3018(a) Motions") shall
be August 24, 2026 at 5:00 p.m. (prevailing Central Time) (the
"Rule 3018(a) Motion Deadline").
The deadline for filing and serving objections to claims solely for
the purposes of voting on the Plan ("Claims Objections") shall be
August 31, 2026 at 5:00 p.m. (prevailing Central Time) (the "Voting
Claims Objection Deadline").
To be counted, Ballots for accepting or rejecting the Plan must be
received by Epiq by September 21, 2026 at 5:00 p.m. (prevailing
Central Time) (the "Voting Deadline").
The deadline for filing and serving objections to confirmation of
the Plan (the "Confirmation Objection Deadline") shall be September
21, 2026 at 5:00 p.m. (prevailing Central Time).
The Confirmation Hearing, at which the Court will consider
confirmation of the Plan, shall be held on October 6, 2026 at 9:30
a.m. (prevailing Central Time) and shall continue on October 7,
2026 at 9:30 a.m. (prevailing Central Time) to the
extent necessary.
A copy of the Court's Order dated August 3, 2026, is available at
https://urlcurt.com/u?l=DnSlXP from Pacermonitor.com.
About Genesis Healthcare Inc.
Based in Culver City, Calif., Genesis Healthcare Inc. is a medical
group that provides physician services in Southern California.
Genesis Healthcare has operated under the names Daehan Prospect
Medical Group and Prospect Genesis Healthcare.
Genesis Healthcare Inc. and several affiliated debtors sought
relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D.
Tex. Lead Case 25-80185) on July 9, 2025. In its petition, Genesis
Healthcare Inc. listed between $1 billion and $10 billion in
estimated assets and liabilities.
The Hon. Bankruptcy Judge Stacey G. Jernigan handles the jointly
administered cases.
The Debtors employed McDermott Will & Schulte LLP as counsel;
Jefferies LLC as investment banker; and Ankura Consulting Group,
LLC, as restructuring advisors, and designated Louis E. Robichaux
IV and Russell A. Perry as co-chief restructuring officers. Katten
Muchin Rosenman LLP serves as special counsel at the sole direction
of Jonathan Foster and Elizabeth LaPuma in their capacity as
independent directors and members of the special investigation
committee.
The U.S. Trustee appointed an official committee of unsecured
creditors in the Chapter 11 cases of Genesis Healthcare Inc. and
affiliates. The committee retained Proskauer Rose LLP and Stinson
LLP as its co-counsel; FTI Consulting, Inc., as its financial
advisors; and Houlihan Lokey Capital, Inc. as its investment
banker.
GLADE AT NOTTINGHAM: Glen Watson Named Subchapter V Trustee
-----------------------------------------------------------
The Acting U.S. Trustee for Region 8 appointed Glen Watson, Esq.,
at Watson Law Group, PLLC as Subchapter V trustee for Glade at
Nottingham Villas Vacation Condominium Association Inc.
Mr. Watson will be paid an hourly fee of $475 for his services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.
Mr. Watson declared that he is a disinterested person according to
Section 101(14) of the Bankruptcy Code.
The Subchapter V trustee can be reached at:
Glen Watson, Esq.,
Watson Law Group, PLLC
1114 17th Av. S., Suite 201
P.O. Box 121950
Nashville, TN 37212
Telephone: (615) 823-4680
Email: glen@watsonpllc.com
About Glade at Nottingham Villas Vacation Condominium
Glade at Nottingham Villas Vacation Condominium Association Inc.
sought protection under Chapter 11 of the U.S. Bankruptcy Code
(Bankr. M.D. Tenn. Case No. 26-03736) on August 4, 2026, with $1
million to $10 million in assets and up to $50,000 in liabilities.
Judge Charles M. Walker presides over the case.
Denis Graham Waldron, Esq. at Dunham Hildebrand Payne Waldron, PLLC
represents the Debtor as legal counsel.
GOTO GROUP: OFS Capital Marks $1.3MM 1L Debt at 61% Off
-------------------------------------------------------
OFS Capital Corp has marked its $1.3 million first lien debt to
GoTo Group (F/K/A LogMeIn, Inc.) to market at $503,000 or 39% of
the outstanding amount, according to OFS Capital's 10-Q for the
fiscal quarter ended July 31, 2026, filed with the U.S. Securities
and Exchange Commission.
OFS Capital is a participant in a loan extended to GoTo Group
(F/K/A LogMeIn, Inc.). The First Lien Debt accrues interest at
8.79% per annum. The First Lien Debt matures on April 28, 2028.
OFS Capital Corp is a business development company that provides
debt and equity financing solutions to middle-market companies in
the United States.
The Fund is led by Bilal Rashid as Chief Executive Officer.
The Fund can be reached at:
Bilal Rashid
OFS Capital Corp
222 W. Adams Street, Suite 1850
Chicago, IL 60606
Telephone: (847) 734-2000
About GoTo Group
GoTo Group, formerly LogMeIn Inc., is a software as a service
(SaaS) company that provides unified communication and IT
management software.
GPS HOSPITALITY: Lord Abbett Marks $11.8MM Loan at 53% Off
----------------------------------------------------------
Lord Abbett Investment Trust has marked its $11.8 million loan to
GPS Hospitality Holding Co. LLC/GPS Finco, Inc. to market at $5.5
million or 47% of the outstanding amount, according to Lord
Abbett's Form N-CSRS for the fiscal quarter ended Aug. 3, 2026,
filed with the U.S. Securities and Exchange Commission.
Lord Abbett is a participant in a loan extended to GPS Hospitality
Holding Co. LLC/GPS Finco, Inc. The loan accrues interest at 7.00%
per annum and matures on Aug. 15, 2028.
Lord Abbett Investment Trust is a registered management investment
company.
The Fund is led by Douglas B. Sieg as President and Chief Executive
Officer.
The Fund can be reached at:
Douglas B. Sieg
Lord Abbett Investment Trust
30 Hudson Street
Jersey City, NJ 07302-4804
Telephone: (888) 522-2388
About GPS Hospitality Holding Co. LLC/GPS Finco,
Inc.
GPS Hospitality Holding Co LLC / GPS Finco Inc operates as a dual
issuer and special purpose entity. The Company was formed for the
purpose of issuing debt securities to repay existing credit
facilities, refinance indebtedness, and for acquisition purposes.
GRANDE ISLE: Plan Exclusivity Period Extended to Nov. 23
--------------------------------------------------------
Judge Luis E. Rivera II of the U.S. Bankruptcy Court for the Middle
District of Florida extended Grande Isle Towers I & II Condominium
Association Inc.'s exclusive periods to file a plan of
reorganization and obtain acceptance thereof to Nov. 23, 2026 and
Jan. 22, 2027, respectively.
As shared by Troubled Company Reporter, the deadline for non
governmental creditors to file proofs of claim concluded on July 6,
2026. The Debtor is actively auditing those filed claims, including
utilizing specialized forensic building engineers to establish a
clean, objective Quantum Meruit fair market-value baseline for
physical property stabilization work, and intends to quickly enter
constructive claim negotiations or file formal objections where
appropriate.
The Debtor explains that while this case involves a concentrated
pool of creditors, it presents extraordinary multijurisdictional
complexity. This complexity is driven by the direct, overlapping
interplay between: (a) the Debtor's active first-party property
insurance coverage lawsuit against Steadfast Insurance Company
pending in the District Court for the Middle District of Florida
(Ft. Myers Division)(the "Federal Insurance Litigation"); (b) the
disputed claims of StopLoss Logistics, LLC and the associated
derivative mechanic's liens clouding individual unit titles
asserted in a Florida state court case pending in the Circuit Court
for Lee County, with StopLoss having also instituted a
Reorganization proceeding in the Bankruptcy Court for the Southern
District of Texas (Houston Division); and (c) highly contested
attorneys' fee claims filed by the Debtor's former counsel
regarding terminated representation in the Federal Litigation.
On July 6, the United States District Court presiding over the
Federal Insurance Litigation issued a major scheduling order
setting a comprehensive Case Management Conference and Motion to
Compel Discovery hearing for August 4. Providing the Debtor with an
extension of exclusivity will prevent speculative, competing plans
from disrupting these major judicial breakthroughs and ensure the
delivery of a certain, structured, and fully funded Plan of
Reorganization.
Counsel to the Debtor:
Kristopher Aungst, Esq.
Paragon Law, LLC
2665 S Bayshore Dr., Suite 220-10
Miami, FL 33133
Telephone: (305) 812-5443
Email: ka@paragonlaw.miami
About Grande Isle Towers I & II
Condominium Association, Inc.
Grande Isle Towers I & II Condominium Association, Inc. is a
residential condominium association responsible for the management,
maintenance, and administration of a multi-unit residential
property, including common areas, building operations, and
community services for unit owners.
Grande Isle Towers I & II Condominium Association, Inc., sought
relief under Chapter 11 of the U.S. Bankruptcy Code (Bankr. M.D.
Fla. Case No. 26-00951) on April 27, 2026. In its petition, the
Debtor reports estimated assets between $100,001 and $1,000,000 and
estimated liabilities between $10 million and $50 million. The
Debtor is represented by Kristopher E. Aungst, Esq., at Paragon
Law, LLC.
GRANT COUNTY PUBLIC HOSPITAL: Moody's Assigns 'Ba1' Issuer Rating
-----------------------------------------------------------------
Moody's Ratings has upgraded Grant County Public Hospital District
1, WA's general obligation unlimited tax bonds to Baa1 from Baa2.
At the same time, Moody's assigned a Ba1 issuer rating. The outlook
has been revised to stable, previously rating under review. As of
fiscal 2025, Samaritan Healthcare had approximately $210 million in
outstanding total direct debt.
The upgrade of the outstanding GOULT bonds to Baa1 is driven by the
application of Moody's Not-for-profit Healthcare methodology, which
concludes Moody's rating under review with direction uncertain
initiated on May 28, 2026.
RATINGS RATIONALE
The Ba1 issuer rating reflects Grant County Public Hospital
District 1, dba, Samaritan Healthcare's position as the leading
healthcare provider in the rapidly growing Moses Lake region,
serving as both a community hospital and a referral hub for
surrounding rural communities. Favorable population growth,
expanding outpatient utilization, and solid tax support will
continue to support operations. Financial performance was strong in
fiscal 2025, with a 14% EBIDA margin, driven by solid demand for
outpatient, emergency, surgical, imaging, and clinic services. The
completion and opening of the replacement hospital will support
Samaritan Healthcare's competitive position through expanded
capacity, modern facilities, and additional growth opportunities,
although the project has materially increased leverage, with 24%
cash to total adjusted debt and debt to adjusted cash flow of 6.8x
in 2025. Credit quality will remain constrained by the
organization's very small scale and rural operating environment,
exposure to government reimbursement programs, and ongoing
workforce recruitment challenges. Other credit considerations
include strong community support demonstrated through
voter-approved tax levies and a growing assessed tax base.
The Baa1 GOULT rating reflects Samaritan Healthcare's core credit
quality, the dedicated tax-backed pledge, and Moody's assessments
of the district's economic base as Aa. The GOULT pledge provides
the authority to levy an unlimited ad valorem tax if needed, which
supports a higher instrument rating than the issuer rating.
RATING OUTLOOK
The stable outlook reflects Moody's expectations that Samaritan
Healthcare will maintain at least high single digit EBIDA margins
digits supported by stable tax revenue and solid levels of days
cash on hand.
FACTORS THAT COULD LEAD TO AN UPGRADE OF THE RATINGS
-- Material growth in liquidity with days cash sustained above 140
days over a multi-year period
-- Material improvement in leverage with unrestricted cash to
total adjusted debt of at least 50%-60%
-- Ability to grow and maintain stable operations and financial
performance over a multi-year period
FACTORS THAT COULD LEAD TO A DOWNGRADE OF THE RATINGS
-- Sustained weakening of EBIDA margins, contributing to weaker
liquidity with days cash falling below 70 days
-- Material declines in patient volumes or a substantial loss of
market share
PROFILE
Grant County Public Hospital District 1 operates a 50-bed acute
care hospital located in the City of Moses Lake and offers a wide
range of medical services including a level III trauma center and
two medical clinics. The district is situated in the eastern
portion of Grant County in central Washington and its service area
includes the cities or communities of Moses Lake, Ephrata, Soap
Lake, Warden, Quincy, Othello, and Ritzville.
METHODOLOGY
The principal methodology used in these ratings was Not-for-profit
Healthcare published in May 2026.
GRIFFON CORP: Moody's Raises CFR to Ba2, Outlook Stable
-------------------------------------------------------
Moody's Ratings upgraded Griffon Corporation's ("Griffon")
Corporate Family Rating to Ba2 from Ba3 and Probability of Default
Rating to Ba2-PD from Ba3-PD. At the same time, Moody's assigned a
Ba3 rating to the company's proposed $800 million senior unsecured
notes due 2034 and upgraded the rating on Griffon's existing senior
unsecured notes due 2028 to Ba3 from B1. Moody's also withdrew the
Ba1 rating on Griffon's existing term loan B following its
repayment in full and withdrew the Ba1 rating on the company's
revolving credit facility. The company's SGL-1 Speculative Grade
Liquidity rating is unchanged. The outlook remains stable.
Proceeds from the proposed senior unsecured notes, together with
revolver borrowings, will be used to refinance Griffon's existing
approximately $975 million senior unsecured notes due 2028. Griffon
is also refinancing its existing $500 million revolving credit
facility due 2028 with a new $500 million five-year revolving
credit facility. The transaction is expected to have a minimal
effect on leverage and favorably extends the company's debt
maturity profile.
The upgrade reflects Griffon's reduced leverage and consistently
strong free cash flow. The company used divestiture proceeds from
the majority sales of its AMES businesses and internally generated
cash flow to materially reduce debt, including full repayment of
its term loan, resulting in leverage that is lower than previously
anticipated. Griffon's lowering of its net debt-to-EBITDA leverage
target to a range of 1.5x – 2.5x (based on the company's
calculation; 2.2.0x as of June 2026 and 2.0x pro forma for the AMES
divestitures) from a prior range of 2.5x – 3.5x also indicates
the company will sustain leverage at a lower level. The upgrade
also reflects Griffon's good profitability from its strong market
positions in residential and commercial garage doors and ceiling
fans.
The Ba3 rating assigned to the proposed senior unsecured notes
reflects the effective subordination to the $500 million secured
revolver that will have roughly $260 million drawn following the
refinancing. The subordinated position weakens recovery prospects
in the event of a default.
RATINGS RATIONALE
Griffon's Ba2 CFR reflects its good scale within its primary
markets, moderate product diversification and well-established
market positions across its core building products businesses. The
company benefits from strong positions in residential and
commercial garage doors, rolling steel doors and fans that along
with cost management leads to good profitability with EBITDA
margins exceeding 20%. The earnings support robust operating cash
flow and free cash flow generation. Griffon's financial leverage is
moderate and has improved following the AMES divestitures and
related debt repayment. Moody's expects adjusted debt/EBITDA to be
approximately 2.4x in fiscal 2026 and improve toward the low-2x
range over the next 12 to 18 months, supported by continued debt
reduction from free cash flow. The leverage profile provides
meaningful cushion to absorb cyclical earnings volatility, market
weakness or modest acquisition activity.
Griffon's very good liquidity further supports the rating and is
reflected in the company's SGL-1 speculative grade liquidity
rating. Liquidity is supported by approximately $110 million of
cash, Moody's projections for at least $200 million of annual free
cash flow and roughly $228 million of revolver availability,
inclusive of $12 million of outstanding letters of credit, as of
June 30, 2026 pro forma for the completion of the AMES Australasia
joint venture transaction, Term Loan B repayment and proposed
refinancing. Griffon will have no maturities until the new
five-year $500 million revolver expires in 2031.
The rating remains constrained by Griffon's exposure to cyclical
residential and commercial construction activity, customer
concentration, raw material cost volatility and reduced
diversification following the AMES divestitures. End markets
including home sales and remodeling are soft and pressured by high
borrowing rates and rising input costs including due to tariffs.
Moody's expects these factors will limit earnings growth and create
some risk of margin decline over the next year.
Moody's have decided to withdraw the rating(s) for Moody's own
business reasons.
FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS
The stable outlook reflects Moody's expectations that Griffon will
sustain good profitability and free cash flow generation over the
next 12 to 18 months, while maintaining moderate financial leverage
and very good liquidity.
The ratings could be upgraded if Griffon meaningfully increases its
revenue and earnings base while maintaining strong free cash flow.
Griffon would also need to sustain Moody's-adjusted debt/EBITDA,
below 2.0x, very good liquidity, and financial policies that
support more conservative credit metrics.
The ratings could be downgraded if operating earnings weaken due to
lower demand, market share losses, cost pressures, pricing pressure
or execution issues. The ratings could also be downgraded if
Moody's-adjusted debt/EBITDA is sustained above 3.0x, liquidity
weakens, or the company pursues large debt-financed acquisitions or
shareholder distributions that reduce financial flexibility.
The principal methodology used in these ratings was Consumer
Durables published in December 2025.
GRUPO ANTOLIN-IRAUSA: Aug. 19 Chapter 15 Recognition Hearing Set
----------------------------------------------------------------
On July 20, 2026, the Foreign Representative, in her capacity as
the authorized representative of Grupo Antolin-Irausa, S.A.U. and
its affiliates, filed a Verified Petition pursuant to 11 U.S.C.
Secs. 1504, 1515, and 1517 with the U.S. Bankruptcy Court for the
Southern District of New York. The Debtors' Spanish Proceeding is
currently pending before the Spanish Court.
Among other things, the Debtors seek entry of an order recognizing
the Spanish Proceeding as a foreign main proceeding pursuant to
section 1517 of the Bankruptcy Code and granting certain additional
relief pursuant to sections 105(a), 1507, 1510, 1515, and 1521 of
the Bankruptcy Code. The U.S. Bankruptcy Court has scheduled a
Recognition Hearing for 11:00 a.m. (prevailing Eastern Time) on
August 19, 2026. Any party in interest wishing to submit a response
or objection to the Verified Petition must do so pursuant to the
Bankruptcy Code, the Bankruptcy Rules, and the Local Rules, and
such response or objection must be in writing and must set forth
the basis for such objection with specificity. Any such responses
or objections must be filed with the U.S. Bankruptcy Court in
accordance with General Order M-399 and shall be served upon the
following parties so as to be actually received by August 17, 2026,
at 4:00 p.m. (prevailing Eastern Time): (a)this U.S. Bankruptcy
Court; (b)counsel to the Foreign Representative, (i) Kirkland &
Ellis LLP, 333 West Wolf Point Plaza, Chicago, Illinois 60654,
Attn.: Chad J. Husnick, P.C. (chusnick@kirkland.com) and (ii)
Kirkland & Ellis LLP, 601 Lexington Avenue, New York, New York
10022, Attn.: Margaret Reiney (margaret.reiney@kirkland.com) and
Jimmy Ryan (jimmy.ryan@kirkland.com); (c) counsel to the Original
Participating Creditors, Allen Overy Shearman Sterling US LLP, 599
Lexington Avenue, New York, New York 10022, Attn.: Fredric Sosnick
(fsosnick@aoshearman.com) and Mira J. Soldon
(mira.soldon@aoshearman.com); and (d) the United States Trustee for
the Southern District of New York, with the Foreign Representative
reserving the right to present any arguments in reply at the
Recognition Hearing.
Copies of the Verified Petition, the Provisional Relief Order, and
other documents filed by the Foreign Representative may be obtained
http://www.nysb.uscourts.gov(a PACER login and password are
required to retrieve a document), by visiting the claims and
noticing agent's website at
https://restructuring.ra.kroll.com/Antolin, or upon written request
to the Foreign Representative's United States counsel addressed to:
(i) Kirkland & Ellis LLP, 333 West Wolf Point Plaza, Chicago,
Illinois 60654, Attn.: Chad J. Husnick, P.C.
(chusnick@kirkland.com); and (ii) Kirkland & Ellis LLP, 601
Lexington Avenue, New York, New York 10022, Attn.: Margaret Reiney
(margaret.reiney@kirkland.com) and Jimmy Ryan
(jimmy.ryan@kirkland.com).
Hearings in this matter, including the Recognition Hearing, will be
held before the Honorable Judge Shireen A. Barday, United States
Bankruptcy Judge for the Southern District of New York, at the U.S.
Bankruptcy Court, courtroom 501, One Bowling Green, New York, New
York 10004.
At such hearing certain relief may be granted, and the U.S.
Bankruptcy Court may order the scheduling of a case management
conference to consider the efficient administration of these
chapter 15 cases.
Your rights may be affected. You should read the Verified Petition
carefully and discuss it with your attorney, if you have one in
connection with these chapter 15 cases. If you do not have an
attorney, you may wish to consult one.
If you do not want the U.S. Bankruptcy Court to grant the relief
requested by the Foreign Representative, or if you want the U.S.
Bankruptcy Court to consider your views on any matter requested at
the Recognition Hearing, then you or your attorney must attend such
hearing. If you or your attorney do not take these steps, the U.S.
Bankruptcy Court may decide that you do not oppose the relief
sought by the Foreign Representative and may enter an order
granting the
relief requested.
A complete list of each of the Debtors in these chapter 15 cases
may be obtained on the website of the Debtors' claims and noticing
agent at https://restructuring.ra.kroll.com/Antolin. The location
of Debtor Grupo Antolin-Irausa, S.A.U.'s corporate headquarters and
the Debtors' service address in these chapter 15 cases is C.
Vitoria, numero307, Burgos, 09007 Spain.
About Grupo Antolin-Irausa, S.A.U.
Headquartered in Burgos, Spain, Grupo Antolin-Irausa, S.A.U. is a
leading global supplier of automotive interior components,
including overhead systems, door modules, lighting and
cockpit/instrument panel components. The company generated reported
sales of around EUR3.7 billion in 2025 and is owned by the Antolin
family. Grupo Antolin operates a global footprint of plants across
Europe, the Americas, Asia and Africa, and supplies the world's
major OEMs.
Grupo Antolin-Irausa, S.A.U. sought relief under Chapter 15 of the
U.S. Bankruptcy Code (Bankr. S.D.N.Y. Case No. 26-11714) on July
20, 2026.
Honorable Bankruptcy Judge Shireen A. Barday handles the case.
The Debtor is represented by Kirkland & Ellis LLP. Cristina Blanco
Santo Tomas is the Debtor's foreign representative.
HANOVER COLLEGE: Moody's Cuts Issuer & Revenue Bonds Rating to Ba2
------------------------------------------------------------------
Moody's Ratings has downgraded Hanover College, IN's issuer and
revenue bonds to Ba2 from Ba1. The outlook is stable. Total
outstanding debt as of fiscal 2025 was $28.5 million.
The downgrade reflects an anticipated prolonged path to breakeven
operations and ongoing enrollment challenges. The recent suspension
of the proposed veterinary school also removes a key component of
Hanover's growth strategy, reducing prospects for near-term
enrollment and revenue expansion. The weak operating performance
and continued reliance on endowment support to fund operations are
a governance consideration and a key driver of this action.
RATINGS RATIONALE
The Ba2 issuer rating reflects Hanover's small scale, weak market
position, and persistent enrollment challenges in a highly
competitive student market. While management continues to
reposition the academic portfolio toward health sciences and other
career-oriented programs, undergraduate demand remains pressured
and longer-term enrollment growth is uncertain. The suspension of
the proposed veterinary school removes a potentially important
strategic pillar of the institution's turnaround plan, increasing
reliance on the successful execution of other growth initiatives.
Strong financial resources and low leverage provide a measure of
stability, although continued reliance on reserves to support
operations and address capital needs could pressure liquidity and
reduce financial flexibility over time.
The Ba2 revenue bond rating reflects the issuer rating and the
unsecured general obligation to pay debt service.
RATING OUTLOOK
The stable outlook reflects expectations that Hanover's financial
resources will provide sufficient support for strategic initiatives
and ongoing operating deficits while management develops and
executes a refreshed strategic plan aimed at restoring long-term
financial sustainability.
FACTORS THAT COULD LEAD TO AN UPGRADE OF THE RATINGS
-- Significant and sustained improvement in operating performance
resulting in a sustained return to breakeven performance
-- Outsized growth in wealth and liquidity through improved
fundraising or retained surpluses from operations
-- Multi-year strengthening in enrollment that contributes to
growth in net tuition revenue
FACTORS THAT COULD LEAD TO A DOWNGRADE OF THE RATINGS
-- Notable decline in wealth and unrestricted liquidity that
results in fewer than 100 monthly days cash on hand or spendable
cash to debt below 1x
-- Meaningful increase in leverage absent commensurate increase in
cash flow
-- Inability to make incremental progress towards balanced
operations beginning in fiscal 2027
PROFILE
Hanover College, a small liberal arts college located in Hanover,
IN, is the oldest private college in the state of Indiana. Hanover
generated operating revenue of $48 million in fiscal 2025 and
enrolled 1,209 full-time equivalent (FTE) students as of fall
2025.
METHODOLOGY
The principal methodology used in these ratings was Higher
Education published in July 2024.
HAVANA VENTURES: Richard Furtek Named Subchapter V Trustee
----------------------------------------------------------
The U.S. Trustee for Regions 3 and 9 appointed Richard Furtek of
Furtek & Associates, LLC as Subchapter V trustee for Havana
Ventures, LLC.
Mr. Furtek will be paid an hourly fee of $325 for his services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.
Mr. Furtek declared that he is a disinterested person according to
Section 101(14) of the Bankruptcy Code.
The Subchapter V trustee can be reached at:
Richard E. Furtek
Furtek & Associates, LLC
Lindenwood Corporate Center
101 Lindenwood Drive, Suite 225
Malvern, PA 19355
Phone: (215) 768-8030
Email: rfurtek@furtekassociates.com
About Havana Ventures LLC
Havana Ventures, LLC filed a petition under Chapter 11, Subchapter
V of the Bankruptcy Code (Bankr. E.D. Pa. Case No. 26-13288) on
August 3, 2026, with up to $50,000 in assets and $500,001 to $1
million in liabilities.
Judge Patricia M. Mayer presides over the case.
Jonathan H. Stanwood, Esq., at the Law Office - Jonathan H.
Stanwood, LLC represents the Debtor as bankruptcy counsel.
HAVEN 10 PROPERTY: J. Maxwell Beatty Named Chapter 11 Trustee
-------------------------------------------------------------
Judge Eduard Rodriguez of the U.S. Bankruptcy Court for the
Southern District of Texas approved the appointment of J. Maxwell
Beatty as Chapter 11 trustee for Haven 10 Property LLC.
The appointment followed a July 28 court order granting the motion
filed by KeyBank National Association to appoint an independent
trustee to take over the company's bankruptcy case.
In its motion, KeyBank argued that an independent fiduciary is
necessary because the company currently lacks effective management
and the existing receiver has allegedly mismanaged the property.
KeyBank argued that Haven 10 lacks effective management because its
principals allegedly abandoned their duties, face criminal charges,
and previously mismanaged the company. It also alleged misconduct
and poor performance by the receiver, including self-dealing,
failure to pursue a property sale, and declining occupancy and
property value.
KeyBank argued that an independent Chapter 11 Trustee is needed to
protect the estate, manage the property, address tax issues, and
pursue an orderly sale and resolution.
A copy of the order is available for free at
https://urlcurt.com/u?l=O4agI4 from PacerMonitor.com.
Attorney for KeyBank National Association:
REED SMITH LLP
Keith M. Aurzada, Esq.
Michael P. Cooley, Esq.
Jay L. Krystinik, Esq.
Taylre C. Janak, Esq.
2850 N. Harwood
Suite 1500
Dallas, TX 75201
Telephone: 469.680.4200
kaurzada@reedsmith.com
mpcooley@reedsmith.com
jkrystinik@reedsmith.com
tjanak@reedsmith.com
About Haven 10 Property LLC
Haven 10 Property, LLC is a single-asset real estate company that
owns a multifamily apartment property located at 1600 Avenue M in
South Houston, Texas.
Petitioning creditor Keybank N.A. filed an involuntary Chapter 11
petition (Bankr. S.D. Texas Case No. 26-34382) on June 22, 2026.
Judge Eduardo V. Rodriguez presides over the case.
Michael P. Cooley, Esq., at Reed Smith, LLP represents the
petitioner as legal counsel.
HAWAIIAN ELECTRIC: S&P Withdraws 'B' ST Issuer Credit Rating
------------------------------------------------------------
S&P Global Ratings withdrew its 'B' short-term and commercial paper
ratings on Hawaiian Electric Industries Inc. and its 'B' short-term
rating on Hawaiian Electric Co. Inc., both at the issuers'
request.
At the time of withdrawal, the long-term issuer credit ratings on
both entities were 'BB-' and outlooks stable.
HELP/SYSTEMS HOLDINGS: New Mountain Marks $11.08MM Loan 24% Off
---------------------------------------------------------------
New Mountain Finance Corp has marked its $11,085,000 loan to
Help/Systems Holdings, Inc. to market at $8,452,000 or 76% of the
outstanding amount, according to New Mountain's Form 10-Q for the
fiscal quarter ended Aug. 3, 2026, filed with the U.S. Securities
and Exchange Commission.
New Mountain is a participant in a loan extended to Help/Systems
Holdings. The loan accrues interest at 9.77% per annum. The loan
matures in May 2029.
New Mountain Finance Corp is a closed-end, externally managed,
non-diversified management investment company that operates as a
business development company, primarily investing in middle-market
companies in the United States.
The Fund is led by John R. Kline as President, Chief Executive
Officer (Principal Executive Officer) and Director.
The Fund can be reached at:
John R. Kline
New Mountain Finance Corporation
1633 Broadway, 48th Floor
New York, NY 10019
Telephone: (212) 720-0300
About Help/Systems Holdings, Inc.
Limited information about Help/Systems Holdings, Inc. was available
from the filing.
HELP/SYSTEMS HOLDINGS: New Mountain Marks $6.01MM Loan 24% Off
--------------------------------------------------------------
New Mountain Finance Corp has marked its $6,017,000 loan to
Help/Systems Holdings, Inc. to market at $4,588,000 or 76% of the
outstanding amount, according to New Mountain's Form 10-Q for the
fiscal quarter ended Aug. 3, 2026, filed with the U.S. Securities
and Exchange Commission.
New Mountain is a participant in a loan extended to Help/Systems
Holdings. The loan accrues interest at 9.77% per annum. The loan
matures in May 2029.
New Mountain Finance Corp is a closed-end, externally managed,
non-diversified management investment company that operates as a
business development company, primarily investing in middle-market
companies in the United States.
The Fund is led by John R. Kline as President, Chief Executive
Officer (Principal Executive Officer) and Director.
The Fund can be reached at:
John R. Kline
New Mountain Finance Corporation
1633 Broadway, 48th Floor
New York, NY 10019
Telephone: (212) 720-0300
About Help/Systems Holdings, Inc.
Limited information about Help/Systems Holdings, Inc. was available
from the filing.
HERITAGE GROCERS: OFS Capital Marks $8.9MM 1L Debt at 36% Off
-------------------------------------------------------------
OFS Capital Corp has marked its $8.9 million first lien debt
position in Heritage Grocers Group, LLC (F/K/A Tony's Fresh Market
/ Cardenas Markets) to market at $5.7 million or 64% of the
outstanding amount, according to OFS Capital's Form 10-Q for the
fiscal quarter ended July 31, 2026, filed with the U.S. Securities
and
Exchange Commission.
OFS Capital is a participant in a loan extended to Heritage Grocers
Group, LLC (F/K/A Tony's Fresh Market / Cardenas Markets). The
first lien debt accrues interest at 10.58% per annum and matures on
August 1, 2029.
OFS Capital Corp is a business development company that provides
debt and equity financing solutions to middle-market companies in
the United States.
The Fund is led by Bilal Rashid as Chief Executive Officer.
The Fund can be reached at:
Bilal Rashid
OFS Capital Corp
222 W. Adams Street, Suite 1850
Chicago, IL 60606
Telephone: (847) 734-2000
About Heritage Grocers Group, LLC (F/K/A Tony's Fresh
Market / Cardenas Markets)
Heritage Grocers Group, LLC (F/K/A Tony's Fresh Market / Cardenas
Markets) operates a food retailer. The Company offers food and
household products, as well as assortment of both traditional and
specialty grocery. Heritage Grocers Group serves customers in the
States of California.
HOLLYWOOD EXCAVATING: Kathleen DiSanto Named Subchapter V Trustee
-----------------------------------------------------------------
The Acting U.S. Trustee for Region 21 appointed Kathleen DiSanto,
Esq., at Bush Ross, P.A., as Subchapter V trustee for Hollywood
Excavating of Florida, LLC.
Ms. DiSanto will be paid an hourly fee of $400 for her services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.
Ms. DiSanto declared that she is a disinterested person according
to Section 101(14) of the Bankruptcy Code.
The Subchapter V trustee can be reached at:
Kathleen L. DiSanto, Esq.
Bush Ross, P.A.
P.O. Box 3913
Tampa, FL 33601-3913
Phone: (813) 224-9255
Fax: (813) 223-9620
disanto.trustee@bushross.com
About Hollywood Excavating of Florida LLC
Hollywood Excavating of Florida, LLC sought protection under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Fla. Case No.
26-50156) on July 30, 2026, with $500,001 to $1 million in both
assets and liabilities.
Byron Wright, III, Esq., at Bruner Wright, P.A. represents the
Debtor as legal counsel.
HOLLYWOOD EXCAVATING: Seeks Subchapter V Bankruptcy in Florida
--------------------------------------------------------------
On July 30, 2026, Hollywood Excavating of Florida, LLC filed for
Chapter 11 protection in the U.S. Bankruptcy Court for the Northern
District of Florida.
According to the court filing, the Debtor reports estimated assets
of $500,000 to $1 million and estimated liabilities of $500,000 to
$1 million, with between one and 49 creditors.
A meeting of creditors under Section 341(a) to be held at 12:00
(CT) on August 24, 2026 by UST telephone, access code 7738427 Filed
by United States Trustee.
About Hollywood Excavating of Florida, LLC
Hollywood Excavating of Florida, LLC is a Caryville, Florida-based
site preparation and excavation contractor serving regional
projects. As of July 2026, the company operated a fleet of six
power units and employed six drivers.
Hollywood Excavating of Florida, LLC sought relief under Subchapter
V of Chapter 11 of the U.S. Bankruptcy Code (Bankr. N.D. Fla. Case
No. 26-50156) on July 30, 2026. In its petition, the Debtor reports
estimated assets of $500,000 to $1 million and estimated
liabilities of $500,000 to $1 million.
Honorable Mary W. Colon handles the case.
The Debtor is represented by Robert C. Bruner, Esq. of Bruner
Wright, P.A.
HOUGHTON MIFFLIN: New Mountain Marks $14.2MM Loan 21% Off
---------------------------------------------------------
New Mountain Finance Corp has marked its $14,262,000 loan to
Houghton Mifflin Harcourt Company to market at $11,331,000 or 79%
of the outstanding amount, according to New Mountain's Form 10-Q
for the fiscal quarter ended Aug. 3, 2026, filed with the U.S.
Securities and Exchange Commission.
New Mountain is a participant in a loan extended to Houghton
Mifflin. The loan accrues interest at 9.01% per annum. The loan
matures in April 2029.
New Mountain Finance Corporation is a closed-end, externally
managed, non-diversified management investment company that
operates as a business development company, primarily investing in
middle-market companies in the United States.
The Fund is led by John R. Kline as President, Chief Executive
Officer (Principal Executive Officer) and Director.
The Fund can be reached at:
John R. Kline
New Mountain Finance Corporation
1633 Broadway, 48th Floor
New York, NY 10019
Telephone: (212) 720-0300
About HOUGHTON MIFFLIN HARCOURT
COMPANY
Limited information about Houghton Mifflin Harcourt Company was
available in the filing.
HOUGHTON MIFFLIN: New Mountain Marks $7.9MM Loan 21% Off
--------------------------------------------------------
New Mountain Finance Corp has marked its $7,945,000 loan to
Houghton Mifflin Harcourt Company to market at $6,313,000 million
or 79% of the outstanding amount, according to New Mountain's Form
10-Q for the fiscal quarter ended Aug. 3, 2026, filed with the U.S.
Securities and Exchange Commission.
New Mountain is a participant in a loan extended to Houghton
Mifflin. The loan accrues interest at 9.01% per annum. The loan
matures in April 2029.
New Mountain Finance Corporation is a closed-end, externally
managed, non-diversified management investment company that
operates as a business development company, primarily investing in
middle-market companies in the United States.
The Fund is led by John R. Kline as President, Chief Executive
Officer (Principal Executive Officer) and Director.
The Fund can be reached at:
John R. Kline
New Mountain Finance Corporation
1633 Broadway, 48th Floor
New York, NY 10019
Telephone: (212) 720-0300
About HOUGHTON MIFFLIN HARCOURT
COMPANY
Limited information about Houghton Mifflin Harcourt Company was
available in the filing.
HOUGHTON MIFFLIN: New Mountain Marks $8.1MM Loan 21% Off
--------------------------------------------------------
New Mountain Finance Corp has marked its $8,130,000 loan to
Houghton Mifflin Harcourt Company to market at $6,460,000 or 79% of
the outstanding amount, according to New Mountain's Form 10-Q for
the fiscal quarter ended Aug. 3, 2026, filed with the U.S.
Securities and Exchange Commission.
New Mountain is a participant in a loan extended to Houghton
Mifflin. The loan accrues interest at 9.01% per annum. The loan
matures in April 2029.
New Mountain Finance Corporation is a closed-end, externally
managed, non-diversified management investment company that
operates as a business development company, primarily investing in
middle-market companies in the United States.
The Fund is led by John R. Kline as President, Chief Executive
Officer (Principal Executive Officer) and Director.
The Fund can be reached at:
John R. Kline
New Mountain Finance Corporation
1633 Broadway, 48th Floor
New York, NY 10019
Telephone: (212) 720-0300
About HOUGHTON MIFFLIN HARCOURT
COMPANY
Limited information about Houghton Mifflin Harcourt Company was
available in the filing.
HP LODGING: Gets Interim OK to Use Cash Collateral Until Aug. 31
----------------------------------------------------------------
HP Lodging, LLC on Aug. 11 received interim approval from the U.S.
Bankruptcy Court for the Central District of California, Riverside
Division, to use cash collateral.
Under the interim order, the Debtor is authorized to use cash
collateral through Aug. 31 to fund its operations based on the
court-approved operating budget.
The Debtor's cash collateral consists of hotel revenues, deposit
accounts, and merchant receipts, subject to security interests of
lenders.
The Debtor identifies two primary secured debts: (i) a
first-priority deed of trust held by KEB Hana LA Financial Corp.,
with an approximate balance of $1,679,008, secured by the hotel
valued at $8.97 million; and (ii) a junior COVID-19 EIDL obligation
held by the U.S. Small Business Administration, with a filed claim
of $11,254 secured by business personal property.
Both secured creditors will receive adequate protection through
replacement liens on post-petition rents, revenues, and proceeds,
with the same validity, priority, extent, and perfection as their
pre-petition liens.
As additional protection, KEB and the SBA will receive monthly
payments of $12,492.65 and $731, respectively, in accordance with
the existing loan terms.
The order is available at
http://bankrupt.com/misc/HPLodging_CCOrder20.pdf
The court scheduled a final hearing for Aug. 27 and set an Aug. 20
deadline for filing objections.
HP Lodging's Chapter 11 filing was precipitated by an Aug. 3 notice
of sheriff's sale following a $1.89 million writ of execution
obtained by the City of Ontario for disputed, unpaid transient
occupancy taxes spanning 2016 to 2019.
The Debtor's primary objective is to restructure its obligations
while maintaining continuous operations, as the hotel serves as its
sole income-generating asset, yielding approximately $1.07 million
in gross room revenue in 2025.
About HP Lodging LLC
HP Lodging LLC, doing business as Motel 6 Ontario Airport, sought
protection under Chapter 11 of the U.S. Bankruptcy Code (Bankr.
C.D. Calif. Case No. 26-16249) on July 31, 2026. In the petition
signed by Jigneshkumar Patel, managing member, the Debtor disclosed
up to $50 million in assets and up to $10 million in liabilities.
Kevin Tang, Esq., at Tang and Associates, represents the Debtor as
legal counsel.
HUGHES SATELLITE: Lord Abbett Marks $12.5MM Loan at 37% Off
-----------------------------------------------------------
Lord Abbett Investment Trust has marked its $12.5 million loan to
Hughes Satellite Systems Corp. to market at $7.9 million or 63% of
the outstanding amount, according to Lord Abbett's Form N-CSRS for
the fiscal quarter ended Aug. 3, 2026, filed with the U.S.
Securities and Exchange Commission.
Lord Abbett is a participant in a loan extended to Hughes Satellite
Systems Corp. The loan accrues interest at 6.625% per annum and
matures on Aug. 1, 2026.
Lord Abbett Investment Trust is a registered management investment
company.
The Fund is led by Douglas B. Sieg as President and Chief Executive
Officer.
The Fund can be reached at:
Douglas B. Sieg
Lord Abbett Investment Trust
30 Hudson Street
Jersey City, NJ 07302-4804
Telephone: (888) 522-2388
About Hughes Satellite Systems Corp.
Hughes Satellite Systems Corporation operates as a wireless
telecommunication solutions company. The Company provides satellite
broadband network internet connectivity services with cybersecurity
technology and power distribution solutions. Hughes Satellite
Systems serves customers worldwide.
HUNT PROPERTIES: Lender Seeks to Prohibit Cash Collateral Access
----------------------------------------------------------------
FirstBank asks the U.S. Bankruptcy Court for the Western District
of Tennessee, Eastern Division, to prohibit Hunt Properties
Jackson, GP from using cash collateral.
FirstBank's secured position stems from two loans totaling
$2,470,270 as of the petition date, both perfected via recorded
Deeds of Trust containing explicit assignments of leases and rents
on a commercial strip mall in Pulaski, Tennessee. L
The first loan matured prior to the bankruptcy filing with a
balance of $312,273, while the second loan holds a balance of
$2,158,097 and carried a pre-petition arrearage of $74,216. The
subject real estate generates approximately $26,717 in monthly rent
across four tenants: Margarita Mexican Cantina ($6,898), NKO Dental
Office ($5,300), AMG-Hillside, LLC ($8,750), and Shoe Sensation,
Inc. ($5,769).
FirstBank asserts that the Debtor has been collecting and diverting
these funds for unauthorized and unrelated purposes without
creditor consent or court approval under 11 U.S.C. Section
363(c)(2), while simultaneously failing to make post-petition
adequate protection payments, establish a debtor-in-possession bank
account, or file required monthly operating reports.
FirstBank seeks an order prohibiting the Debtor from using cash
collateral or, in the alternative, conditioning any further use on
receiving adequate protection. Additionally, the bank demands that
the Debtor be compelled to segregate and fully account for all
post-petition rental income received from the commercial property.
A court hearing is scheduled for September 3.
The motion is available at
http://bankrupt.com/misc/HuntProperties_CC44.pdf
About Hunt
Properties
Hunt Properties is a Jackson, Tennessee-based commercial real
estate development and management firm. The company focuses on the
acquisition, development, leasing, and management of commercial
real estate properties.
Hunt Properties sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. W.D. Tenn. Case No. 26-10889) on June 25,
2026. In its petition, the Debtor reports estimated assets between
$100 million and $500 million and estimated liabilities between $50
million and $100 million.
Honorable Bankruptcy Judge James L. Croom handles the case.
The Debtor tapped Thomas Harold Strawn, Jr., Esq., as counsel and
Brandon Clenney as accountant.
FirstBank, as lender, is represented by:
Adam C. Crider, Esq.
Rainey, Kizer, Reviere & Bell, PLC
105 S. Highland Avenue
Jackson, Tennessee 38301
Telephone: (731) 423-2414
Email: acrider@raineykizer.com
HYDROTECH INC: Court OKs Bid to Appoint Chapter 11 Trustee
----------------------------------------------------------
Judge Stacey Jernigan of the U.S. Bankruptcy Court for the Northern
District of Texas granted the motion filed by creditors, Bankruptcy
Trading & Investments, LLC, Tyler Harrison, and Jeff Kennedy, to
appoint a Chapter 11 trustee in HydroTech, Inc.'s bankruptcy case.
Judge Jernigan ordered the U.S. Trustee for Region 6, the Justice
Department's bankruptcy watchdog overseeing the case, to appoint a
bankruptcy trustee, and HydroTech to perform all duties required
under the Bankruptcy Code, including the turnover of records and
property of the estate in its possession or control to the
bankruptcy trustee.
In their motion filed July 13, the petitioning creditors said that
a trustee is necessary because of several immediate risks to the
company and its bankruptcy estate.
The creditors argued that credible evidence shows HydroTech's
proprietary technology and trade secrets are at risk of
misappropriation, adding that an independent trustee could secure
its intellectual property, preserve records, investigate the
suspected misappropriation, and prevent further disclosure or
diversion.
The creditors alleged that former director and shareholder Geoff
O'Connor still controls a HydroTech bank account despite resigning,
creating a risk of unauthorized dissipation or diversion of estate
funds. They further alleged that directors Robert Barnett and
Steven Bloom received transfers during the preference period and
obstructed efforts to protect HydroTech's trade secrets. The
creditors further asserted that board infighting has left HydroTech
deadlocked and unable to make critical decisions, requiring the
appointment of an independent bankruptcy trustee.
A copy of the order is available for free at
https://urlcurt.com/u?l=SbrQ9y from PacerMonitor.com.
Attorneys for the Petitioning Creditors:
THE KENNEDY FIRM
Kirk Kennedy, Esq.
8150 N. Central Expressway 10th Floor
Dallas, Texas 75206
Telephone:(832) 646-9228
Email: kkennedy@kennedyfirmtexas.com
- and –
CONDON TOBIN SLADEK SPARKS NERENBERG, PLLC
Jeff Carruth, Esq.
8080 Park Lane, Suite 700
Dallas, Texas 75231
Tel: (214) 265-3800
Fax: (214) 691-6311
Email: jcarruth@condontobin.com
- and –
VTH LAW GROUP, PLLC
V. Tyler Harrison, Esq.
2911 Turtle Creek Blvd., Suite 300
Dallas, Texas 75219
Telephone:: (214) 836-3533
Email: tyler@vthlaw.com
About HydroTech Inc.
HydroTech, Inc is a Dallas, Texas-based water and energy
conservation firm serving commercial, industrial, and government
facilities markets. The company provides water conservation
technologies for cooling towers and boilers, IoT data collection,
cloud-based analytics, electronic water conditioning, water capture
and filtration systems, closed loop treatment programs, reverse
osmosis treatment support, membrane cleaning, and water and
wastewater chemical programs.
Petitioning creditors Bankruptcy Trading & Investments, LLC, Tyler
Harrison, and Jeff Kennedy filed an involuntary chapter 11 petition
(Bankr. W.D. Tex. Case No. 26-32563) on June 9, 2026.
Jeff Caruth, Esq., at Condon Tobin Sladek Sparks Nerenberg, PLLC
represents the petitioners as legal counsel.
INSTANT BRANDS: Trustee Dispute Persists in NY Litigation
---------------------------------------------------------
Alex Wittenberg of Law360 Bankruptcy Authority reports that the
attorneys for Instant Brands' litigation trustee and Cornell
Capital will have to return to a Texas bankruptcy court in the
coming weeks after a judge Tuesday ordered another hearing on their
continuing dispute. The matter is tied to litigation arising from
Instant Brands' Chapter 11 proceedings.
The trustee, Alan Halperin, has brought claims against Cornell
Capital over its involvement with Instant Brands before the company
entered bankruptcy. Among other allegations, Halperin has accused
Cornell of overpaying for the business and causing Instant Brands
to take on significant debt in connection with its ownership, the
report states.
The latest court proceedings also intersect with a separate New
York lawsuit involving the parties. The Texas judge's decision to
schedule another hearing signals that the disagreement remains
active, with the trustee continuing to pursue potential recoveries
for the Instant Brands estate, according to report.
About Instant Brands
Instant Brands designs, manufactures and markets a global portfolio
of innovative and iconic consumer lifestyle brands: Instant, Pyrex,
Corelle, Corningware, Snapware, Chicago Cutlery, ZOID and Visions.
Instant Brands Holdings Inc. and Instant Brands Inc., and their
affiliates sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Tex. Lead Case No. 23-90716) on June
12, 2023. In the petition signed by Adam Hollerbach, chief
restructuring officer, the Debtors disclosed up to $1 billion in
both assets and liabilities. Judge David R. Jones oversees the
case.
Davis Polk & Wardwell LLP's Brian M. Resnick, Steven Z. Szanzer and
Joanna McDonald serve as counsel to the Debtors. The Debtors also
tapped Haynes and Boone, LLP as Texas counsel, Stikeman Elliott LLP
as Canadian counsel, AlixPartners, LLP as financial advisor,
Guggenheim Securities LLC as investment banker, and Epiq Corporate
Restructuring, LLC as claims, noticing, agent, solicitation and
administrative advisor.
DLA Piper LLP (US) serves as counsel to the Official Committee of
Unsecured Creditors.
Ropes & Gray LLP serves as counsel to the DIP Lenders, and Moelis &
Company LLC and Ankura Consulting Group, LLC act as advisors to the
Term DIP Secured Parties.
Skadden, Arps, Slate, Meagher & Flom LLP and Norton Rose Fulbright
and Norton Rose Fulbright Canada LLP serve as counsel and FTI
Consulting as financial advisor to the ABL DIP Secured Parties.
Kramer Levin Naftalis & Frankel LLP serves as counsel to Cornell
Capital.
INTEGRATED PROTEINS: Gets Interim OK to Use Cash Collateral
-----------------------------------------------------------
Integrated Proteins, LLC and affiliated debtors were granted
another extension by the U.S. Bankruptcy Court for the District of
Kansas to use cash collateral.
The court entered a third interim order extending to August 22 the
Debtors' authority to use cash collateral and the terms of the
second interim order, except as modified.
The Debtors estimate their cash collateral at roughly $33.3
million.
The creditors claiming interests in the cash collateral include
First Interstate Bank, Kompass Kapital Funding, LLC, Harper
Advance, LLC, BlueRock Capital, LLC, and Spring Funding FL, LLC.
Secured debts owed to First Interstate Bank and Kompass total more
than $31.7 million.
Pursuant to the third interim order, secured creditors will receive
adequate protection through replacement or continuing liens on
assets acquired by the Debtors after their Chapter 11 filing, with
the same priority as their pre-petition liens.
Any default under the interim order, including missed payments or
reporting failures, may result in termination of the Debtors'
authority to use cash collateral after notice and an opportunity to
cure.
A copy of the court's order and the Debtor's budget is available at
https://shorturl.at/DFaUo from PacerMonitor.com.
A final non-evidentiary hearing is scheduled for August 20, at 1:30
p.m.
About Integrated Proteins LLC
Integrated Proteins, LLC and affiliates sought protection under
Chapter 11 of the Bankruptcy Code (Bankr. D. Kan. Lead Case No.
26-20713) on May 6, 2026. At the time of filing, Debtors had
estimated assets of between $50 million and $100 million and
liabilities of between $100 million and $500 million.
Judge Dale L Somers oversees the case.
The Debtors tapped Prelle Eron & Bailey, P.A. and Haupt Law, PC as
bankruptcy counsel; Baker Sterchi Cowden & Rice, LLC as special
counsel; and David R. Payne, executive managing director at
Marshall & Stevens, as chief restructuring officer.
The official committee representing the Debtors' unsecured
creditors tapped McDermott Will & Schulte, LLP as bankruptcy
counsel; Martin, Pringle, Oliver, Wallace & Bauer, LLP as local
counsel; and Province, LLC as financial advisor.
INTEL CORP: Lord Abbett Marks $3.9MM Bond at 22% Off
----------------------------------------------------
Lord Abbett Investment Trust has marked its $3.9 million bond
investment in Intel Corp. to market at $3.1 million or 78% of the
outstanding amount, according to Lord Abbett's Form N-CSRS for the
fiscal quarter ended Aug. 3, 2026, filed with the U.S. Securities
and Exchange Commission.
Lord Abbett is a participant in a bond investment in Intel Corp.
The bond accrues interest at 4.10% per annum and matures on May 19,
2046.
Lord Abbett Investment Trust is a registered management investment
company.
The Fund is led by Douglas B. Sieg as President and Chief Executive
Officer.
The Fund can be reached at:
Douglas B. Sieg
Lord Abbett Investment Trust
30 Hudson Street
Jersey City, NJ 07302-4804
Telephone: (888) 522-2388
About Intel Corp.
Intel Corporation is an American multinational technology company
headquartered in Santa Clara, California.
INTERNATIONAL PETROLEUM: Moody's Affirms 'B1' CFR, Outlook Stable
-----------------------------------------------------------------
Moody's Ratings affirmed International Petroleum Corp.'s (IPC)
ratings, including its B1 long-term corporate family rating, IPC's
B1-PD probability of default rating and the B1 rating of its backed
senior unsecured notes. The outlook remains stable.
RATINGS RATIONALE
The rating action reflects Moody's expectations that IPC's credit
metrics will improve over the next 12-18 months, with
Moody's-adjusted debt/EBITDA declining to between 1.5x and 2.0x
from around 2.5x for the 12 months ended June 2026, as well as
strong execution of the greenfield Blackrod project. Blackrod
achieved first oil in the second quarter of 2026 and has been
delivered within budget. Blackrod will add around 30,000 boe/d of
production at plateau by the end of 2027, increasing the company's
production base and free cash flow generation capacity.
The improvement in credit metrics is driven by expectations for
higher production supported by the ramp-up of Blackrod Phase 1,
combined with a decline in capital spending from 2026. Moody's base
case assumes Brent at $75/bbl for the rest of 2026 and $65/bbl in
2027, with production rising to around 60,000-65,000 boe/d in 2027
and capital spending declining to around $150-$160 million. Under
these assumptions, Moody's forecasts Moody's-adjusted FCF of around
$30 million in 2026, increasing to around $60 million in 2027 as
production ramps up.
IPC's good liquidity and track record of conservative financial
policies since its inception in 2017, with credit metrics
frequently better than Moody's expectations for a B1-rated company,
also support the rating. Moody's expects management to remain
focused on reducing leverage following several years of elevated
capital spending related to the Blackrod development.
At the same time, IPC's smaller scale relative to rated peers and
its exposure to relatively high-cost Canadian heavy oil production,
which is subject to discounts to benchmark WTI pricing constrain
the rating.
STRUCTURAL CONSIDERATIONS
The B1 instrument rating of its $450 million of outstanding bonds
is in line with the CFR. This reflects that the bonds benefit from
guarantees from key operating subsidiaries, including IPC Canada
Ltd, the borrower of the CAD 348.5 million revolving credit
facility (RCF). IPC Canada Ltd also provides share pledges as
security for the RCF, which, in Moody's views, constitutes a weak
security package. Consequently, Moody's believes recovery rates for
the notes and the RCF will not be materially different in a
restructuring scenario.
LIQUIDITY
IPC has good liquidity. At the end of June 2026, it reported around
$11 million of cash and cash equivalents. It also had access to a
USD250 million RCF due in 2028 (USD180 million available as of June
2026). The facility contains a working capital ratio maintenance
covenant and a bond a minimum liquidity covenant of 5% of
interest-bearing debt, both with ample capacity. These sources of
liquidity coupled with Moody's expectations of positive FCF from
the second half of 2026, mainly driven by the ramp up of
production, support the company liquidity profile.
The $450 million notes is due 2030 and will start amortizing in
2028. IPC's B1 CFR incorporates Moody's expectations that the
company will maintain a good liquidity buffer at all times,
considering the inherently high volatility of its business and the
ambitious capital spending plan.
OUTLOOK
The stable outlook reflects Moody's expectations that the company
will successfully ramp up Blackrod project, achieving production
volume of around 60,000-65,000 boe/d over the next 12-18 months.
The stable outlook also reflects Moody's expectations of positive
FCF and net debt / EBITDA reduction from Q4 2026.
FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS
The B1 rating could be upgraded if IPC: (1) successfully grows its
daily production towards 80k boe/d while maintaining a stable 1PD
reserve life; (2) keeps its retained cash flow to debt ratio above
40%; and debt / EBITDA below 1.5x; (3) maintains a strong liquidity
buffer. A continued ability to sustain its production level with
low maintenance capex will be a prerequisite for any positive
rating action.
The B1 rating could be downgraded if IPC's: (1) retained cash flow
to debt ratio falls below 30% on a sustained basis; (2) debt/
EBITDA exceeds 2.5x on a sustained basis; (3) daily production
declines or 1PD reserve life materially deteriorates; (4) liquidity
profile materially deteriorates as evidenced by sustained negative
FCF generation or meaningful debt financed acquisitions or
shareholder distributions which materially reduce liquidity
headroom. A deterioration in the company's ability to sustain its
production levels with low capex requirements will also be negative
for the rating.
PRINCIPAL METHODOLOGY
The principal methodology used in these ratings was Independent
Exploration and Production published in February 2026.
COMPANY PROFILE
Incorporated in Vancouver, Canada, International Petroleum Corp.
(IPC) is an international oil and gas exploration and production
(E&P) company, with net average daily production of around 45
kboe/d in 2025 and net 1P reserves of around 305 million boe as of
year-end 2025, mostly producing oil. Its assets are primarily
located in Canada, where it generates more than 85% of its net
average daily production, as well as in Malaysia and France.
IRONWORX LLC: Commences Chapter 11 Bankruptcy in Illinois
---------------------------------------------------------
On July 30, 2026, Ironworx LLC filed for Chapter 11 protection in
the Southern District of Illinois. According to court filings, the
Debtor reports between $1 million and $10 million in assets and $1
million and $10 million in liabilities owed to 50 to 99 creditors.
Chapter 11 Reorganization Plan due November 30, 2026.
About Ironworx LLC
Ironworx LLC is a Mount Vernon, Illinois-based manufacturer of
fabricated metal products. The company operates a specialized steel
fabrication business under the Magnum Steel Works brand and
maintains a 200,000-square-foot manufacturing facility in Mount
Vernon.
Ironworx LLC sought relief under Chapter 11 of the U.S. Bankruptcy
Code (Bankr. S.D. Ill. Case No. 26-40328) on July 30, 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 Mary E. Lopinot handles the case.
The Debtor is represented by Spencer P. Desai, Esq., of The Desai
Law Firm, LLC.
JACKS FARM: Case Summary & Four Unsecured Creditors
---------------------------------------------------
Debtor: Jacks Farm LLC
500 S. Ohioville Road
New Paltz NY 12561
Business Description: Jacks Farm LLC is a New Paltz, New York-based
real estate company that owns or leases an approximately 80-acre
farm and equestrian property at 500 S. Ohioville Road. The
agriculturally zoned property includes a residence and multiple
structures.
Chapter 11 Petition Date: August 4, 2026
Court: United States Bankruptcy Court
Northern District of New York
Case No.: 26-10871
Judge: Hon. Patrick G Radel
Debtor's Counsel: John J. Revella, Esq.
JOHN J. REVELLA, P.C.
16 Church Street
Walden NY 12586
Tel: 347-414-2626
Email: john@revellalaw.com
Estimated Assets: $1 million to $10 million
Estimated Liabilities: $1 million to $10 million
The petition was signed by Casey McCann as managing member.
A copy of the Debtor's list of its four unsecured creditors is
available for free on PacerMonitor at:
https://www.pacermonitor.com/view/25MD42Q/Jacks_Farm_LLC__nynbke-26-10871__0001.1.pdf?mcid=tGE4TAMA
A full-text copy of the petition is available for free on
PacerMonitor at:
https://www.pacermonitor.com/view/7PRIAQA/Jacks_Farm_LLC__nynbke-26-10871__0005.0.pdf?mcid=tGE4TAMA
JANE STREET: S&P Assigns 'BB' Rating to $14.6BB Sr. Secured Notes
-----------------------------------------------------------------
S&P Global Ratings assigned its 'BB' issue rating to Jane Street
Group LLC's announced issuance of $14.6 billion in senior secured
notes (with laddered maturities across 2031, 2033, and 2036).
S&P said, "We expect that Jane Street will use the proceeds to
retire the outstanding $11.1 billion of long-term borrowings
consisting of its term loan and senior secured notes. It'll use
incremental proceeds for general corporate purposes, including as
additional trading capital to support the continued expansion of
its trading operations.
"While we continue to believe that the firm's growth focus
increases risk (particularly market risk and operational risk), we
recognize Jane Street's track record of strong profitability and
the increased scale and scope of its trading franchise. In
addition, we expect Jane Street's capitalization to remain a
strength based on the expected growth in equity from retention of
earnings."
The additional stable funding should help keep the ratio of
required margins to net trading capital and the gross stable
funding ratio supportive of the current ratings, despite the rapid
growth of the balance sheet. S&P favorably views Jane Street's
proactive management of its long-term funding and its laddered
structure of debt maturities.
S&P's outlook on the issuer credit rating remains positive. It
could raise the ratings if:
-- S&P believes the company's franchise growth and diversification
are sustainable and will result in more stable revenue and
earnings; and
-- The company, at the same time, demonstrates a strong,
institutionalized risk management function (specifically regarding
management of its regulatory and operational risks).
KASEYA INC: New Mountain Finance Marks $12.7MM Loan 22% Off
-----------------------------------------------------------
New Mountain Finance Corp has marked its $12,756,000 loan to Kaseya
Inc. to market at $9,928,000 or 78% of the outstanding amount,
according to New Mountain's Form 10-Q for the fiscal quarter ended
Aug. 3, 2026, filed with the U.S. Securities and Exchange
Commission.
New Mountain is a participant in a loan extended to Kaseya Inc. The
loan accrues interest at 6.91% per annum. The loan matures in March
2032.
New Mountain Finance Corp is a closed-end, externally managed,
non-diversified management investment company that operates as a
business development company, primarily investing in middle-market
companies in the United States.
The Fund is led by John R. Kline as President, Chief Executive
Officer (Principal Executive Officer) and Director.
The Fund can be reached at:
John R. Kline
New Mountain Finance Corporation
1633 Broadway, 48th Floor
New York, NY 10019
Telephone: (212) 720-0300
About KASEYA INC.
Limited information about Kaseya Inc. was available in the filing.
KIMBLE COUNTY HOSPITAL: Moody's Assigns 'Ba3' Issuer Rating
-----------------------------------------------------------
Moody's Ratings has assigned a Ba3 issuer rating to Kimble County
Hospital District (TX) and downgraded the district's general
obligation limited tax (GOLT) bond rating to Baa3 from Baa2. This
action concludes the review that was initiated on May 28, 2026 and
reflects the application of the updated Not-for-profit Healthcare
methodology. The outlook is stable. The district has approximately
$8.6 million in outstanding debt.
RATINGS RATIONALE
The Ba3 issuer rating reflects the district's very small operating
scale, with combined operating revenue of approximately $13.5
million, which limits financial flexibility and heightens
vulnerability to operational and competitive pressures. The rating
also incorporates the district's reliance on Preferred Management
Corporation (PMC), a third-party, for-profit operator that leases
and manages all patient care operations. This arrangement creates
counterparty and contract renewal risk, particularly because the
current lease and operating agreements expire in May 2028,
preceding the district's final debt maturity in 2033. These
challenges are partially offset by stable operations supported by
ad valorem tax revenues and strong unrestricted liquidity which is
over 100% of debt.
The Baa3 GOLT rating reflects the district's modest tax base and
economy, which is somewhat concentrated in the oil and gas
industry, as well as its A economic base assessment and dedicated
tax levy that supports operations and debt service with substantial
headroom under the current levy.
RATING OUTLOOK
The stable outlook reflects expectations that Kimble will continue
to generate sufficient revenue from its dedicated tax levy to meet
debt service requirements, supported by substantial headroom tax
levy capacity. The outlook also expects continued operating
stability under the current lease and operating arrangement with
Preferred Management Corporation (PMC). A material deterioration in
PMC's financial performance, reduced financial transparency, or
disruption of the operating relationship could pressure the
district's credit profile.
FACTORS THAT COULD LEAD TO AN UPGRADE OF THE RATINGS
-- Material enterprise growth coupled with substantial revenue
diversification through service line expansion
-- Expansion of programs, or increased funding which lead to
higher margins and additional revenue
FACTORS THAT COULD LEAD TO A DOWNGRADE OF THE RATINGS
--
-- Decline in liquidity to below 100% cash-to-adjusted debt
-- Termination of lease and operating agreements leading to a
decline in operational performance
-- Sustained assessed valuation declines without the necessary tax
levies adjustments to offset the property valuation declines
PROFILE
Kimble Hospital is a 15 bed critical access hospital owned by
Kimble County Hospital District and operated by Preferred
Management Corporation (PMC) via a renewable lease agreement. The
hospital is coterminous with Kimble County, located in west Texas
approximately 115 miles northwest of the city of San Antonio and 45
miles west of the city of Kerrville. Most recent estimates indicate
a population of 5,000 for the county.
METHODOLOGY
The principal methodology used in these ratings was Not-for-profit
Healthcare published in May 2026.
KNOT WORLDWIDE: Moody's Cuts CFR to Caa1, Outlook Stable
--------------------------------------------------------
Moody's Ratings has downgraded The Knot Worldwide Inc.'s (The Knot)
corporate family rating to Caa1 from B2 and its probability of
default rating to Caa1-PD from B2-PD. Concurrently, Moody's
assigned the Caa1 ratings to the company's proposed amended and
extended $720 million backed senior secured credit facilities due
2030, consisting of an approximately $670 million term loan B and a
$50 million first lien revolver. The ratings on the company's
existing credit facilities (revolver and term loan) due 2028 were
downgraded to Caa1 from B2 and will be withdrawn following the
completion of the refinancing and the repayment of debt. The
outlook is maintained at stable.
The downgrade of the CFR to Caa1 from B2 reflects The Knot's
continued revenue declines, elevated leverage and execution risk
associated with the company's turnaround strategy. Revenue and
EBITDA have weakened materially over the last 18 months as changes
to search engine traffic patterns, including the increased use of
AI-generated search results, reduced user re-engagement and the
value delivered to vendors. The company also increased investments
in strategic initiatives intended to diversify traffic sources and
support long-term growth. In addition, the company experienced
elevated vendor churn following pricing and packaging changes
implemented in 2025. These pressures have resulted in declining
revenue, lower EBITDA and weaker-than-expected credit metrics.
Moody's expects revenue to decline further in 2026 following a 2%
decrease in 2025, and EBITDA margins to remain in the low-20%
range, well below historical levels. While management's strategic
initiatives are intended to stabilize operating performance and
support a return to growth beginning in 2027, the recovery depends
on successful execution of new initiatives. Management has
indicated some improvement in certain operating indicators,
including user engagement, although it is too early to determine
whether these trends will translate into sustained revenue growth.
These initiatives include increasing user engagement, expanding
AI-enabled planning tools, enhancing vendor monetization, and
launching booking and payment capabilities. Moody's believes the
path to restoring revenue growth and deleveraging remains
uncertain.
The Knot is also seeking to amend and extend its revolver and term
loan maturities to 2030 from 2028. The proposed leverage-neutral
transaction would address the company's significant near-term
refinancing needs and allow management to focus on the turnaround.
However, this relief would come at the cost of a higher interest
burden over time, including a portion of the incremental interest
cost that will be paid in kind until certain leverage targets are
met. The amended and extended facilities would also include
lender-friendly terms, including tighter EBITDA addbacks and
financial maintenance covenants on both the revolver and the term
loan.
If completed as proposed, the transaction would constitute a
distressed exchange and therefore a default under Moody's
definitions, because the loan extensions offer low value relative
to the original promise while enabling the company to avoid
default. Moody's expects to append a limited default (/LD)
designation to The Knot's Caa1-PD PDR upon transaction closing,
which will be removed in approximately three business days.
Governance risk was a key ESG consideration in the rating action
because the announced amend-and-extend transaction will likely be
considered a default, highlighting aggressive financial strategy
and risk management and negative implications for creditors.
RATINGS RATIONALE
The Knot's Caa1 CFR reflects the company's (1) high debt/EBITDA
leverage (based on Moody's adjustments and expensing capitalized
software development cost) of around 8.4x for the twelve months
ended March 31, 2026, which Moody's projects will peak at around
9.0x at the end of 2026 before gradually declining below 8.0x in
2027; (2) modest revenue size and narrowly focused products and
services; (3) Moody's expectations for limited organic growth
prospects over the next 12 months given new strategic priorities to
focus on long-term growth; (4) rapidly evolving technology
landscape; and (5) concentrated ownership and risk of more
aggressive financial strategies.
The rating is supported by: (1) the company's established
competitive position in the online wedding services marketplace;
(2) a largely subscription-based revenue model that provides a
recurring baseline of sales; (3) good profitability, with EBITDA
margins projected in the low-20% range; and (4) Moody's
expectations that the company will maintain sufficient liquidity
sources to execute its business turnaround.
Moody's expects The Knot to maintain adequate liquidity over the
next 12 to 15 months. Sources of liquidity consist of cash balances
of around $75 million at closing and Moody's expectations that the
company's free cash flow will remain constrained through 2027.
Moody's expects the company will have full access to the proposed
$50 million revolving credit facility due 2030. These sources are
sufficient to meet all of its annual cash obligations, including
approximately $6.7 million of mandatory term loan payments, paid
quarterly.
The proposed senior secured credit agreement includes a maximum net
senior secured leverage covenant applicable to both the revolver
and the term loan, which will be tested at 8.7x as of September 30,
2026, with gradual quarterly step-downs thereafter. Moody's expects
the company to remain in compliance with applicable covenants over
the next 12 to 15 months.
The stable outlook reflects Moody's expectations that The Knot will
maintain sufficient liquidity while working to improve operating
performance beginning in 2027. The outlook also assumes that credit
metrics will strengthen over time, supported by disciplined cost
management and continued progress in stabilizing revenue trends.
FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS
The ratings could be upgraded if The Knot can demonstrate sustained
revenue stabilization alongside EBITDA margin improvement, and
sustained positive free cash flow generation. Quantitatively, an
upgrade would require The Knot to sustain debt/EBITDA (based on
Moody's adjustments and expensing capitalized software development
cost) below 7.5x.
The ratings could be downgraded if business fundamentals remain
weak, as evidenced by execution missteps, a weakened competitive
position, or a diminished vendor value proposition leading to
sustained revenue declines, higher operating expenses, and
larger-than-expected cash flow deficits. The ratings could also be
downgraded if liquidity materially erodes.
The principal methodology used in these ratings was Business and
Consumer Services published in February 2026.
The Knot Worldwide Inc., headquartered in Chevy Chase, MD, is a
leading provider of online wedding services. The company is
majority owned by funds managed by Permira Advisors LLC. Moody's
projects the company to generate annual revenue of about $450
million in 2026.
LEISURE INVESTMENTS: Court Won't Toss Controladora Bankruptcy Case
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Judge Laurie Selber Silverstein of the U.S. Bankruptcy Court for
the District of Delaware denied in its entirety Eduardo Albor's
motion to dismiss the bankruptcy case of Controladora Dolphin S.A.
de C.V. The Court also denied Mr. Albor's request for stay relief
to proceed with litigation in Mexico and relief from orders entered
previously in these cases.
Controladora Dolphin is a Mexican entity. Pre-bankruptcy
Controladora Dolphin executed an Amended and Restated Note Purchase
and Guarantee Agreement dated June 8, 2020, which amended and
restated an earlier agreement. By the Note Purchase Agreement,
Controladora Dolphin issued and sold to Wilmington Trust National
Association, as collateral agent for certain purchasers, 8.5%
guarantee senior secured notes due April 8, 2026 in the aggregate
principal amount of $100,000,000. Payment under the Note Purchase
Agreement was guaranteed by certain affiliated entities and secured
by, among other things, a pledge of Mr. Albor's shares of stock in
Controladora Dolphin. The pledge of stock is memorialized in a
Share Pledge Agreement dated June 8, 2020 between Mr. Albor (as
pledgor) and Wilmington Trust (as pledgee). Controladora Dolphin is
in payment default on the Note Purchase Agreement.
On March 31, 2025, Steven Robert Strom as sole independent director
authorized Leisure Investments and certain affiliated entities to
file voluntary bankruptcy proceedings in this court. On April 16,
2025, Mr. Strom authorized the filing of a voluntary chapter 11
case for Controladora Dolphin and another of its wholly owned
subsidiaries in this court. All of these cases are administratively
consolidated for convenience. The Office of the United States
Trustee appointed an Official Committee of Unsecured Creditors.
As of the bankruptcy filings, the Debtors operated entertainment
and recreational venues, including dolphin and other live-animal
encounters in parks in the United States, Mexico, the Caribbean and
Europe.
The Motion to Dismiss
Mr. Albor contends that Controladora Dolphin's bankruptcy case was
filed without corporate authority and in violation of precautionary
measures put in place by the Second District Court Specialized in
Insolvency Matters ("Mexican Concurso Court") in a prior concurso
mercantile proceeding in Mexico. Mr. Albor contends that he filed
the motion to dismiss at this time because the Mexican Eighth Civil
Collegiate Court of the First Circuit ("Mexican Collegiate Court")
issued a March 31, 2026 order granting an amparo, which invalidated
the corporate resolutions that removed Mr. Albor from office. Mr.
Albor further contends that the effect of the March 31, 2026 order
("March 31 Amparo Order") is that Mr. Albor has been reinstated as
the President of the Board of Controladora Dolphin, S.A. DE C.V.
which, in turn, places responsibilities on him that he must attend
to in Mexico.
However, according to Judge Silverstein, "Based on the evidence, I
deny the motion. As Mr. Albor does not seek to put the issue of
corporate authority squarely in front of me, I do not find cause to
dismiss any of the bankruptcy cases. Further, dismissal is not
remotely in the best interests of the estates or their creditors.
Neither will I grant relief from stay at this late date."
A copy of the Court's Memorandum dated August 4, 2026, is available
at https://urlcurt.com/u?l=8SSGO4 from Pacermonitor.com.
About Leisure Investments Holdings
Leisure Investments Holdings LLC and affiliates are operating under
the name "The Dolphin Company," manage over 30 attractions,
including dolphin habitats, marinas, water parks, and adventure
parks, located in eight countries across three continents. Their
primary operations are based in Mexico, the United States, and the
Caribbean, with locations in Jamaica, the Cayman Islands, the
Dominican Republic, and St. Kitts. These attractions are home to
approximately 2,400 animals from more than 80 species of marine
life, including a variety of marine mammals such as dolphins, sea
lions, manatees, and seals, as well as birds and reptiles. As of
2023, the marine mammal population at the Debtors' parks includes
roughly 295 dolphins, 51 sea lions, 18 manatees, and 18 seals.
Leisure Investments Holdings LLC sought relief under Chapter 11 of
the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case 25-10606) on
March 31, 2025. In its petition, the Debtor reports estimated
assets and liabilities between $100 million and $500 million each.
Honorable Bankruptcy Judge Laurie Selber Silverstein handles the
case.
The Debtors tapped Young Conaway Stargatt & Taylor LLP as counsel.
The Debtors' restructuring advisor is RIVERON MANAGEMENT SERVICES,
LLC. The Debtors' Claims & Noticing Agent is KURTZMAN CARSON
CONSULTANTS, LLC d/b/a VERITA GLOBAL. Keen-Summit Capital Partners
LLC serves as their real estate advisor and broker.
The official committee of unsecured creditors tapped Raines Feldman
Littrell LLP as its counsel; the Law Offices of Manganelli, Leider
& Savio, P.A. as co-counsel; Force Ten Partners, LLC as financial
advisor; and Greenhill & Co., LLC as investment banker.
LEISURE INVESTMENTS: Seeks Court OK for $2MM Asset Sale
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Emlyn Cameron of Law360 Bankruptcy Authority reports that Leisure
Investments Holdings LLC, the owner of a dolphin park business, has
asked the Delaware bankruptcy court to approve a $2 million sale of
its assets. The proposed transaction is part of the debtor's
efforts to monetize its remaining assets and advance its Chapter 11
restructuring.
The company is urging the court to authorize the sale, which it
says would provide a path for resolving its bankruptcy obligations.
The request comes as Leisure Investments continues to navigate
proceedings involving its assets and related Dolphin Company
entities, the report relays.
The bankruptcy case has also been marked by disputes over corporate
control involving the Dolphin group's Mexican operations. Earlier
proceedings included challenges to the authority of former
executives and competing claims concerning ownership interests held
through financing and collateral arrangements, according to
Law360.
About Leisure Investments Holdings
Leisure Investments Holdings LLC and affiliates are operating under
the name "The Dolphin Company," manage over 30 attractions,
including dolphin habitats, marinas, water parks, and adventure
parks, located in eight countries across three continents. Their
primary operations are based in Mexico, the United States, and the
Caribbean, with locations in Jamaica, the Cayman Islands, the
Dominican Republic, and St. Kitts. These attractions are home to
approximately 2,400 animals from more than 80 species of marine
life, including a variety of marine mammals such as dolphins, sea
lions, manatees, and seals, as well as birds and reptiles. As of
2023, the marine mammal population at the Debtors' parks includes
roughly 295 dolphins, 51 sea lions, 18 manatees, and 18 seals.
Leisure Investments Holdings LLC sought relief under Chapter 11 of
the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case 25-10606) on
March 31, 2025. In its petition, the Debtor reports estimated
assets and liabilities between $100 million and $500 million each.
Honorable Bankruptcy Judge Laurie Selber Silverstein handles the
case.
The Debtors tapped Robert S. Brady, Esq., Sean T. Greecher, Esq.,
Allison S. Mielke, Esq., and Jared W. Kochenash, Esq. as counsels.
The Debtors' restructuring advisor is RIVERON MANAGEMENT SERVICES,
LLC. The Debtors' Claims & Noticing Agent is KURTZMAN CARSON
CONSULTANTS, LLC d/b/a VERITA GLOBAL.
LIZA HAZAN: Loses Bid to Strike Judgment in JMB Adversary Case
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Judge Robert A. Mark of the U.S. District Court for the Southern
District of Florida denied Liza Hazan's motion to strike the agreed
final judgment entered in the adversary proceeding captioned as
JMB/URBAN 900 DEVELOPMENT PARTNERS, LTD, Plaintiff, v. LIZA HAZAN,
Defendant, Adv. Proc. No. 16-01188-RAM (Bankr. S.D. Fla.).
The pending matters in this adversary proceeding are the latest
chapter in a long-running battle between Christopher Kosachuk and
Liza Hazan, the defendant and debtor in the closed chapter 11 case.
The Court has previously denied Mr. Kosachuk's motions to reopen
the chapter 11 case, both a motion filed by him individually and a
motion filed by Mr. Kosachuk on behalf of the plaintiff in this
adversary and creditor in the chapter 11 case, JMB/Urban Partners
900 Ltd. ("JMB").
On July 20, 2016, the Court entered the agreed final judgment in
favor of the Plaintiff, JMB and against the Debtor-Defendant, Liza
Hazan (the "Debtor") in the amount of $275,000. In the agreed final
judgment, the Debtor agreed, among other things, that the Agreed
Final Judgment was non-dischargeable in the the chapter 11 case no.
16-10389-RAM (the "Main Case") pursuant to 11 U.S.C. Sec.
523(a)(2).
On June 25, 2025, in the Main Case, Christopher Kosachuk filed the
transfer of claim other than for security wherein Mr. Kosachuk
disclosed that he acquired Proof of Claim No. 4-2 filed by JMB
against the Debtor. That claim served as the basis of this
adversary proceeding and was reduced to the agreed final judgment.
As such, Mr. Kosachuk is now the owner of the agreed final
judgment.
The pre-petition judgment referred to in the agreed final judgment
is a state court judgment, dated October 14, 2011 and modified on
October 23, 2013, in favor of JMB and against the Debtor in the
amount of $300,000 plus attorneys' fees and pre- and post-judgment
interest, entered by the Circuit Court of Cook County, Illinois in
Case No. 2005-L-13785 (the "Illinois Judgment"). In the Main Case,
JMB filed proof of claim no. 4-2 in the amount of $664,380.47,
representing the amount of the Illinois Judgment plus awarded
attorneys' fees and pre- and post-judgment interest. In settlement
of the complaint, the Court entered the agreed final judgment in
the amount of $275,000, which, as mentioned, the Debtor agreed
would be non-dischargeable pursuant to 11 U.S.C. Sec. 523(a)(2).
Following confirmation of the Debtor's plan of reorganization and
closure of the chapter 11 case, JMB assigned its claim in the
chapter 11 case and the non-dischargeable judgment entered in this
adversary to Mr. Kosachuk. The pending matters all turn on the
answer to the following question: Is the JMB judgment enforceable?
In its motion to strike, the Debtor argues that the agreed final
judgment is not independently enforceable because:
(i) the agreed final judgment was incorporated into the plan
and, therefore, is superseded by the rights granted to JMB in the
plan and JMB is bound by the plan and the confirmation order under
section 1141(a);
(ii) the July 8th order denying motion to reopen and to dismiss
the chapter 11 case limits JMB's rights to enforce the plan through
a breach of contract claim filed in another forum;
(iii) enforcement of the agreed final judgment in this adversary
proceeding and permitting JMB to file a breach of contract claim in
another forum court would allow for an impermissible
double-recovery; and
(iv) JMB is time-barred from enforcing the agreed final judgment
because it waited more than five years to collect, citing Fla.
Stat. Sec. 95.11(2)(a), Balfour Beatty Bahamas, Ltd. v. Bush, 170
F.3d 1048 (11th Cir. 1999), and Kilby v. Ilgen (In re Kilby), 196
B.R. 627, 629-30 (Bankr. M.D. Fla. 1996).
The Court finds that the agreed final judgment is enforceable. JMB
is entitled to execute on the agreed final judgment.
According to the Court, while the agreed final judgment provided
that the Debtor may incorporate the terms of the agreed final
judgment into the plan in exchange for JMB supporting confirmation
of the plan and crediting all payments received under the plan
against the agreed final judgment, the fact that the agreed final
judgment is nondischargeable and, therefore, remains independently
enforceable beyond confirmation of the plan is not in question.
The Court rejects Debtor's argument that enforcement of the agreed
final judgment is time-barred. Fla. Stat. Sec. 95.11(2)(a) sets a
five-year statute of limitations for any action, other than for the
recovery of real property, on a judgment of any court.
A copy of the Court's Order dated July 28, 2026, is available at
https://urlcurt.com/u?l=HXP7Dy from Pacermonitor.com.
Liza Hazan filed for Chapter 11 bankruptcy protection (Bankr. S.D.
Fla. Case No. 16-10389) on Jan. 11, 2016, and is represented by
Joel M. Aresty, Esq., in North Miami, Florida.
LOGIX HOLDING: Capital Southwest Marks $2.4MM 1L Loan at 20% Off
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Capital Southwest Corp. has marked its $2.4 million first lien loan
to Logix Holding Company LLC to market at $1.9 million or 80% of
the outstanding amount, according to Capital Southwest's 10-Q for
the fiscal quarter ended August 3, 2026, filed with the U.S.
Securities and Exchange Commission.
Capital Southwest is a participant in a loan extended to Logix
Holding Company LLC. The first lien loan accrues interest at 10.67%
per annum and matures on December 31, 2028.
Capital Southwest Corp. is a business development company that
provides financing solutions to middle-market businesses.
The Fund is led by Michael S. Sarner as President and Chief
Executive Officer.
The Fund can be reached at:
Michael S. Sarner
Capital Southwest Corp.
8333 Douglas Avenue, Suite 1100
Dallas, TX 75225
Telephone: (214) 238-5700
About Logix Holding Company LLC
Logix Holding Company, LLC operates as a holding company. The
Company, through its subsidiaries, provides wireline telecom
services such as business and wholesale internet, ethernet, voice
cloud. Logix Holding serves customers in the United States.
LONGFOR GROUP: Lord Abbett Marks $2.2MM Loan at 25% Off
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Lord Abbett Investment Trust has marked its $2.2 million loan to
Longfor Group Holdings Ltd. (China) to market at $1.7 million or
75% of the outstanding amount, according to Lord Abbett's Form
N-CSRS for the fiscal quarter ended Aug. 3, 2026, filed with the
U.S. Securities and Exchange Commission.
Lord Abbett is a participant in a loan extended to Longfor Group.
The loan accrues interest at 3.85% per annum. The loan matures on
Jan. 13, 2032.
Lord Abbett Investment Trust is a registered management investment
company.
The Fund is led by Douglas B. Sieg as President and Chief Executive
Officer.
The Fund can be reached at:
Douglas B. Sieg
Lord Abbett Investment Trust
30 Hudson Street
Jersey City, NJ 07302-4804
Telephone: (888) 522-2388
About Longfor Group Holdings Limited (China)
Longfor Group Holdings Limited is an investment holding company
principally engaged in property development, commercial investment,
asset management, property management and smart construction.
M2S GROUP: New $40MM Loan Add-on No Impact on Moody's 'B2' CFR
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Moody's Ratings said that M2S Group Intermediate Holdings, Inc.'s
(M2S) B2 corporate family rating and B2-PD probability of default
rating are not affected by the proposed $40 million add-on to the
company's senior secured first lien term loan B due 2031, which is
rated B2. The outlook remains stable.
The company's proposed $40 million add-on, along with cash, will be
used for the purchase of Heartland Label Printers, LLC, a North
American producer of direct thermal, thermal transfer, and
specialty variable-information labels.
Moody's views this transaction as credit positive, as it expands
M2S's operating footprint, increases exposure to a blue-chip
customer base, and enhances the company's product mix in serving
stable end markets, like food and beverage, retail and grocery, and
health and beauty.
M2S's credit profile reflects a diverse product offering, derived
from multiple substrates, and the company's material science
capabilities. Long-term customer relationships and a strong market
positions in various differentiated end markets provide barriers to
entry in very fragmented and competitive markets. The company's
asset-lite business model requires limited capital expenditures and
provides financial flexibility in the form of free cash flow
generation that can be allocated to absolute debt reduction or the
funding of future bolt-on acquisitions. While the company has shown
discipline in managing the strength of its balance sheet, a limited
track record as a rated company, and concentrated ownership by
private equity sponsor, Wynnchurch Capital, are constraints to the
rating.
Moody's expects M2S to have good liquidity over the next 12-18
months, supported by free cash flow generation and a $100 million
asset-based revolver (ABL). Moody's expects the company to generate
around $60 million of free cash flow in 2026, which can be used for
further debt reduction. M2S has no near-term maturities with its
ABL expiring in August 2029 and its outstanding senior secured
first lien term loan maturing in August 2031.
The stable outlook reflects Moody's expectations that M2S will
generate healthy margins and free cash flow, while maintaining a
disciplined approach to managing the balance sheet and inorganic
growth opportunities.
M2S Group Intermediate Holdings, Inc. is a leading coating
specialist providing innovative engineering paper, film product,
and label solutions. Revenue for the twelve months ended June 30,
2026 was $872 million. The company is privately owned by Wynnchurch
Capital and does not disclose information publicly.
MANANA RESTAURANT: Gets OK to Use Cash Collateral Until Sept. 8
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Manana Restaurant 2, LLC received interim approval from the U.S.
Bankruptcy Court for the District of Minnesota to use cash
collateral to fund its operations.
Under the interim order, the Debtor is authorized to use cash
collateral based on its 13-week cashflow projection through the
Sept. 8 final hearing.
The Debtor requires immediate access to cash collateral to maintain
daily operations and avoid operational shutdown due to liquidity
constraints. On August 3, the Debtor initiated a Chapter 11 case
due to severe financial distress caused by Operation Metro Surge
and city construction at its location.
Estimated liquidation values for cash collateral are set at $11,235
as of the petition date, increasing to $1,489,737 by the final
hearing date, and projected at $42,940 by the anticipated November
1 plan confirmation date.
Latino Economic Development Center holds a first-priority security
interest in the Debtor's cash, receivables, and inventory while CRF
Small Business Loan Company, LLC is considered unsecured as to
those assets but is fully secured by the Debtor's real estate. The
Debtor maintains no deposit account control agreements under UCC
9-104 with its bank.
Creditors claiming an interest in cash collateral will be granted
adequate protection through replacement liens, with the same
dignity, priority and effect as their respective pre-petition
interests. In addition, CRF may receive payments from the Debtor as
further protection.
The order is available at
http://bankrupt.com/misc/MaanaRestaurant2_CCorder19.pdf
About Manana Restaurant 2 LLC
Manana Restaurant 2, LLC, doing business as Manana Restaurant,
operates a Salvadorean restaurant on the East Side of Saint Paul.
Manana Restaurant 2 sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Minn. Case No. 26-32517) on August 3,
2026, with $500,001 to $1 million in assets and $1 million to $10
million in liabilities. Balmore A Paiz Diaz, manager, signed the
petition.
Kenneth C. Edstrom, Esq., at Sapientia Law Group represents the
Debtor as bankruptcy counsel.
Steven Nosek serves as Subchapter V trustee for the Debtor.
MAPF HOLDINGS: Golub Capital Marks $3.5MM Loan at 30% Off
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Golub Capital BDC, Inc. has marked its $3.5 million one stop loan
to MAPF Holdings, Inc. loan to market at $2.5 million or 70% of the
outstanding amount, according to Golub Capital's Form 10-Q for the
fiscal quarter ended June 30, 2026, filed with the U.S. Securities
and Exchange Commission.
Golub Capital is a participant in a loan extended to MAPF Holdings.
The one stop loan accrues interest at 19% PIK per annum. The one
stop loan matures in December 2027.
Golub Capital BDC, Inc. is an externally managed, closed-end,
non-diversified management investment company that primarily
invests in debt securities of middle-market companies.
The Fund is led by David B. Golub as Chief Executive Officer.
The Fund can be reached at:
David B. Golub
Golub Capital BDC, Inc.
200 Park Avenue, 25th Floor
New York, NY 10166
Telephone: (212) 750-6060
About MAPF Holdings, Inc.
MAPF Holdings, Inc. is the corporate entity operating as Mid
America Pet Food (MAPF), a prominent American super-premium pet
food manufacturer.
MARELLI AUTOMOTIVE: Moves to Dismiss OPmobility Suit Over CEO Hire
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Alex Wolf of Bloomberg Law reports that Marelli Automotive Lighting
USA LLC and Strategic Value Partners LLC are seeking dismissal of a
lawsuit filed by OPmobility SE that accuses them of taking trade
secrets after Marelli hired OPmobility's former CEO. The defendants
told a Delaware bankruptcy court that the claims are unsupported
and should be thrown out.
At the center of the litigation is Laurent Favre, who previously
served as chief executive of OPmobility before taking the top job
at Marelli. OPmobility alleges that Favre's move created a risk
that its confidential and proprietary information could be
transferred to Marelli, while also asserting that contractual
restrictions continued to bind its former executive, the report
relays.
Marelli and its lender disputed those allegations in a filing
Thursday, saying OPmobility had failed to identify specific trade
secrets that were allegedly taken or facts demonstrating that those
secrets were misappropriated. The defendants likewise challenged
the allegation that Favre violated his agreement with OPmobility,
according to Bloomberg.
The defendants characterized the complaint as largely consisting of
conclusory assertions rather than specific factual allegations.
They asked the U.S. Bankruptcy Court for the District of Delaware
to dismiss OPmobility’s claims, setting up a legal fight over the
circumstances surrounding Favre’s transition to Marelli, the
report cites.
About Marelli Automotive Lighting USA LLC
Marelli Automotive Lighting USA, LLC is a global automotive parts
supplier based in Saitama, Japan. The company designs and
manufactures advanced technologies for leading automakers,
including lighting systems, electronic components, software
solutions, and interior products. Operating in 24 countries with a
workforce of over 46,000, Marelli also collaborates with
motorsports teams and industry partners on high-performance
component development.
Marelli and its affiliates sought relief under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. D. Del. Lead Case No. 25-11034) on
June 11, 2025. In its petition, Marelli reported between $1 billion
and $10 billion in assets and liabilities.
Judge Brendan Linehan Shannon handles the cases.
The Debtors are represented by Kirkland & Ellis LLP, Kirkland &
Ellis International LLP, and Pachulski Stang Ziehl & Jones LLP.
Alvarez & Marsal North America, LLC is the Debtors' restructuring
advisor. PJT Partners Inc. is the Debtors' investment banker.
Kurtzman Carson Consultants, LLC, doing business as Verita Global,
is the Debtors' notice and claims agent.
The U.S. Trustee for Region 3 appointed an official committee to
represent unsecured creditors in the Debtors' Chapter 11 cases. The
committee tapped Paul Hastings, LLP and Morris James, LLP as legal
counsel and FTI Consulting, Inc. as its financial advisor.
MARIO PURCHASER: Golub Capital Marks $5.6MM Loan at 23% Off
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Golub Capital BDC, Inc. has marked its $5.6 million one stop loan
to Mario Purchaser, LLC to market at $4.3 million or 77% of the
outstanding amount, according to Golub Capital's Form 10-Q for the
fiscal quarter ended June 30, 2026, filed with the U.S. Securities
and Exchange Commission.
Golub Capital is a participant in a loan extended to Mario
Purchaser. The one stop facility matures in April 2032.
Golub Capital BDC, Inc. is an externally managed, closed-end,
non-diversified management investment company that primarily
invests in debt securities of middle-market companies.
The Fund is led by David B. Golub as Chief Executive Officer.
The Fund can be reached at:
David B. Golub
Golub Capital BDC, Inc.
200 Park Avenue, 25th Floor
New York, NY 10166
Telephone: (212) 750-6060
About Mario Purchaser, LLC
Mario Purchaser, LLC, doing business as Len the Plumber, operates
as a plumbing contractor. The Company offers general plumbing,
drain, sewer, heating services, air conditioning, indoor air
quality, and other services. Len the Plumber serves customers in
the United States.
MEGA KYON: Unsecureds Will Get 10% of Claims via Quarterly Payment
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Mega Kyon, Inc. filed with the U.S. Bankruptcy Court for the
District of Massachusetts a Plan of Reorganization dated August 3,
2026.
Mega Kyon, Inc. is a Pet Supplies Plus franchise operating a retail
pet supply store at 1150 Newport Avenue, Suite E-2B, Attleboro,
Massachusetts.
In addition to selling pet supplies in-store and online, the
business provides pet grooming and self-service dog washing. The
company began operations on January 21, 2023 and currently employs
13 people. John Barris is the company's president and sole equity
holder.
The business was initially funded through:
* A $199,900 equity contribution from John Barris.
* A small business loan from Cadence Bank in the original amount
of $1,783,100.
According to the plan:
* Start-up costs exceeded expectations, leaving the company with
limited capital.
* The store's construction and employee training took more than a
year, during which the company incurred rent and debt service
expenses without generating revenue.
* Lower-than-expected initial revenues, combined with significant
debt service obligations, led the company to obtain additional
financing from other lenders between 2024 and 2026.
* Although revenue continued to grow, profit margins were not
sufficient to support the company's debt obligations.
* John Barris made additional capital contributions to sustain
operations but was eventually unable to continue providing
financial support, leading to the bankruptcy filing.
The debtor states that it remained current on its debt obligations
until shortly before the petition date.
The plan provides for:
* Payment in full of Cadence Bank's secured claim over a five-year
period with interest.
* Avoidance of the liens of partially and wholly unsecured
lienholders in Classes 1 through 3 pursuant to Section 506(d) of
the Bankruptcy Code.
* Reclassification of those unsecured portions into general
unsecured claims.
Class 4 consists of general unsecured creditors, including the
unsecured portions of the former Class 1–3 claims. The debtor
identifies $1,591,414.73 in total general unsecured claims. Class 4
creditors will receive:
* A total distribution of $159,141.47, representing 10% of the
total unsecured claims.
* Payments will be made in 20 quarterly installments of $7,957.07,
beginning on the effective date.
Class 4 is impaired.
Class 5 consists solely of John Barris, who will retain his
ownership interest in the reorganized debtor following
confirmation.
The plan will be funded through:
* Cash on hand as of the effective date.
* Future operating income.
Upon confirmation:
* All estate property will revest in the debtor, free and clear of
liens, claims, and encumbrances except as otherwise provided in the
plan.
* John Barris will continue serving as president.
* He will not receive a salary or owner's draw until all plan
payments have been completed.
The debtor intends to fund the plan through future business revenue
and states that projected cash on hand and disposable income will
be sufficient to satisfy the obligations under the plan.
A full-text copy of the Plan of Reorganization dated August 3, 2026
is available at https://urlcurt.com/u?l=FtIysv from
PacerMonitor.com at no charge.
Counsel to the Debtor:
Marques C. Lipton, Esq.
Lipton Law Group, LLC
945 Concord Street
Framingham, MA 01701
Telephone: (508) 202-0681
Email: marques@liptonlg.com
About Mega Kyon, Inc.
Mega Kyon, Inc., doing business as Pet Supplies Plus, operates a
pet supplies retail store at 1150 Newport Ave. in Attleboro,
Massachusetts. The company sells pet food, supplies, and related
products for dogs, cats, reptiles, small animals, wild birds, and
other pets. It also provides grooming, dog wash, veterinary clinic
access, online ordering, curbside pickup, and same-day delivery
services.
Mega Kyon, Inc. filed its voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. D. Mass. Case No.
26-40523) on May 4, 2026, listing $262,309 in assets and $1,840,224
in liabilities. The petition was signed by John Barris as
president.
Judge Elizabeth D Katz presides over the case.
Marques Lipton, Esq. at LIPTON LAW GROUP, LLC serves as the
Debtor's counsel.
Stephen Darr of Huron Consulting Group serves as Subchapter V
trustee for the Debtor.
MERCY HEALTH: Gets Interim OK to Use Cash Collateral Until Sept. 10
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Mercy Health Care, LLC on Aug. 11 received interim approval from
the U.S. Bankruptcy Court for the District of Minnesota to use cash
collateral through Sept. 10.
Under the interim order, the Debtor is authorized to use cash
collateral to fund its operations based on its budget projections,
except that the salary of Ziad Zahran is limited to $6,250.
The Debtor's primary secured creditor is Itria Ventures, LLC, which
holds a perfected security interest in all personal property,
deposit accounts, and receivables pursuant to a promissory note and
a UCC-1 financing statement filed on February 3, 2025.
As of the petition date, the balance owed to Itria was
approximately $46,600. The Debtor held approximately $3,000 in
liquid cash collateral in its deposit accounts upon filing, with
cash projections estimating balances of $3,000 at the interim
hearing, $22,000 by the final hearing, and $43,000 by December 31.
Itria and other secured creditors will receive adequate protection
through replacement liens on post-petition assets similar to their
pre-petition collateral. These replacement liens will have the same
priority and effect as their pre-petition liens.
Additional safeguards include insurance coverage on the Debtor's
assets.
The order is available at
http://bankrupt.com/misc/MercyHealthCare_CCOrder18.pdf
The court will hold a final hearing on Sept. 10.
About Mercy Health Care LLC
Mercy Health Care, LLC is a home healthcare provider.
Mercy Health Care sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Minn. Case No. 26-42577) on August 3,
2026. In the petition signed by Ziad Zahran, the Debtor disclosed
up to $500,000 in both assets and liabilities.
Judge Katherine A. Constantine oversees the case.
Mary Sieling, Esq., at Sieling Law, PLLC, represents the Debtor as
legal counsel.
METATIEDOT BIDCO: Golub Capital Marks $340,000 Loan at 40% Off
--------------------------------------------------------------
Golub Capital BDC, Inc. has marked its $340,000 one stop loan to
Metatiedot Bidco Oy and Metatiedot US, LLC to market at $204,000 or
60% of the outstanding amount, according to Golub Capital's Form
10-Q for the fiscal quarter ended June 30, 2026, filed with the
U.S. Securities and Exchange Commission.
Golub Capital is a participant in a loan extended to Metatiedot
Bidco and Metatiedot US. The one stop facility accrues interest at
E + 5.00% per annum and matures in November 2030.
Golub Capital BDC, Inc. is an externally managed, closed-end,
non-diversified management investment company that primarily
invests in debt securities of middle-market companies.
The Fund is led by David B. Golub as Chief Executive Officer.
The Fund can be reached at:
David B. Golub
Golub Capital BDC, Inc.
200 Park Avenue, 25th Floor
New York, NY 10166
Telephone: (212) 750-6060
About Metatiedot Bidco Oy and Metatiedot US, LLC
Metatiedot Bidco Oy is a Finnish holding company established on
October 11, 2024, located in Tampere, Finland, and linked
structurally to the enterprise content management firm M-Files Oy.
Metatiedot US, LLC provides software solutions. The Company serves
customers in the United States.
MOBICO GROUP: Lord Abbett Marks GBP$2.98MM Notes at 21% Off
-----------------------------------------------------------
Lord Abbett Investment Trust has marked its GBP$2.98 million notes
of Mobico Group PLC to market at GBP$2.36 million or 79% of the
outstanding amount, according to Lord Abbett's Form N-CSRS for the
fiscal year ended Aug. 3, 2026, filed with the U.S. Securities and
Exchange Commission.
Lord Abbett is a participant in a loan extended to Mobico Group.
The notes accrue interest at 7.853% (5 yr. U.K. Government Bond +
4.14%) per annum.
Lord Abbett Investment Trust is a registered management investment
company.
The Fund is led by Douglas B. Sieg as President and Chief Executive
Officer.
The Fund can be reached at:
Douglas B. Sieg
Lord Abbett Investment Trust
30 Hudson Street
Jersey City, NJ 07302-4804
Telephone: (888) 522-2388
About Mobico Group PLC
Mobico Group PLC is a leading international transport operator,
diversified internationally and by business area, with operations
in North America.
MODIVCARE INC: Former Execs Must Face Investor Cash-Flow Suit
-------------------------------------------------------------
Gillian R. Brassil of Bloomberg Law reports that the former
ModivCare Inc. executives will have to defend a proposed investor
class action alleging that they failed to disclose serious threats
to the healthcare provider's cash flow before its bankruptcy
filing. Judge Gordon P. Gallagher found that the investor had
adequately pleaded allegations that company officials knew
ModivCare was struggling financially while promoting renegotiated
contracts for its nonemergency medical transportation operations.
According to the court, the investor's complaint sufficiently
alleges that executives were aware of financial difficulties but
characterized contract renegotiations with payors as positive
developments. The judge therefore declined to dismiss the proposed
class claims, allowing the case to proceed against the three former
executives.
The allegations include claims that ModivCare's nonemergency
transportation CFO was participating in weekly discussions by March
2023 involving delayed collections and unpaid amounts from payors.
Those discussions, the investor argues, demonstrate that senior
officials had knowledge of deteriorating cash flow at a time when
the company was making more optimistic representations to
shareholders, the report cites.
The defendants now must continue defending the securities
litigation as the case moves beyond the dismissal stage. The
court's decision addresses the sufficiency of the allegations and
does not resolve the underlying claims, which will remain subject
to further proceedings, the report relays.
About Modivcare Inc.
ModivCare Inc. is a technology-enabled healthcare services company
that provides a suite of integrated supportive care solutions for
public and private payors and their members.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Tex. Case No. 25-90309) on August 20,
2025. In the petition signed by Chad J. Shandler, chief
transformation officer, the Debtor disclosed up to $10 billion in
both assets and liabilities.
Judge Alfredo R. Perez oversees the case.
Timothy A. Davidson II, Esq., at Hunton Andrews Kurth LLP,
represents the Debtor as legal counsel.
MYSTIQUE ESCAPE: Andrew Layden Named Subchapter V Trustee
---------------------------------------------------------
The Acting U.S. Trustee for Region 21 appointed Andrew Layden as
Subchapter V trustee for Mystique Escape Room, Inc.
Mr. Layden will be paid an hourly fee of $400 for his services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.
Mr. Layden declared that he is a disinterested person according to
Section 101(14) of the Bankruptcy Code.
The Subchapter V trustee can be reached at:
Andrew Layden
200 S. Orange Avenue, Suite 2300
Orlando, FL 32801
Telephone: 407-649-4000
Email: alayden@bakerlaw.com
About Mystique Escape Room Inc.
Mystique Escape Room, Inc. filed a petition under Chapter 11,
Subchapter V of the Bankruptcy Code (Bankr. M.D. Fla. Case No.
26-05909) on July 31, 2026, with assets of up to $50,000 and
liabilities of between $500,001 and $1 million.
Judge Grace E. Robson presides over the case.
Jeffrey Ainsworth, Esq., at Bransonlaw, PLLC represents the Debtor
as bankruptcy counsel.
NAVA HEALTH: Seeks 60-Day Extension of Plan Filing Deadline
-----------------------------------------------------------
NAVA Health MD, Inc. ("NHMD") and NAVA Health Medical Group, LLC
("NHMG," and together with NHMD, the "Debtors") asked the U.S.
Bankruptcy Court for the Eastern District of Virginia to extend
their exclusivity periods to file a plan of reorganization and
obtain acceptance thereof for additional sixty days.
The Debtors explain that they are currently and actively pursuing
new capital raises designed to aid in reorganization efforts, and
at the same time, analysis of potential sales of viable assets of
the Debtors in a manner that would afford material payment to
general unsecured claims in these cases.
The Debtors have previously filed a motion to seek an extension of
the initial exclusive period. That motion initially sought an
extension of an additional 120 days, but by agreement with the
Official Committee of Unsecured Creditors (the "Creditors'
Committee") reduced the initial request to sixty days.
Notwithstanding the initial sixty-day extension, the Debtors fully
expected that efforts to identify current and prospective capital
sources sufficient to permit the filing of a plan or a sale of
assets herein would require additional time. At this time, the
Debtors have made material progress in their efforts but require
additional time beyond the currently extended exclusive period
remaining to the Debtors under Section 1121(d) of the Bankruptcy
Code.
The Debtors assert that with respect to the large amount of
indebtedness incurred from failed expansion efforts, their cases
are large and complex. The jointly administered Debtors have over
200 scheduled creditors holding over $26,000,000.00 in claims. The
prospects of formulating a Chapter 11 Plan that will provide any
material distribution to general unsecured claims is both a
challenging and complex process facing the Debtor.
The Debtors further assert that in order to properly address these
issues, they require a further 60-day extension of the exclusive
period pursuant to Section 1121(d) of the Bankruptcy Code within
which the Debtors may file a Chapter 11 Plan and a comparable
extension of the exclusive period within which the Debtors may
confirm a Chapter 11 Plan as otherwise required pursuant to Section
1121(b) and (c) of the Bankruptcy Code.
The Debtors claim that they have stabilized their current business
operations and are paying their current operating expenses.
Additional time is required to generate data and information which
will permit material negotiations with creditors and parties in
interest. Finally, the sheer volume in amount of claims and the
number of creditors make this a challenging and complex proceeding
requiring additional time of the Debtors to navigate same.
Counsel to the Debtors:
Kevin M. O'Donnell, Esq.
HENRY & O'DONNELL, P.C.
300 N. Washington Street, Suite 604
Alexandria, VA 22314
Telephone: (703) 548-2100
Facsimile: (703) 548-2105
E-mail: kmo@henrylaw.com
About NAVA Health MD
Nava Health MD, Inc. operates in the functional medicine,
longevity, and wellness sector, providing personalized, integrative
care through physical centers and digital platforms. Through its
management of Nava Health Medical Group, LLC, the company offers
physician-supervised hormone optimization, nutrition, IV therapy,
diagnostic testing, and wellness programs aimed at improving health
span and biological-age markers.
NAVA Health MD, Inc. sought protection under Chapter 11 of the
Bankruptcy Code (Bankr. E.D. Va. Case No. 26-10497) on March 1,
2026.
At the time of the filing, Debtor had estimated assets of between
$1,000,001 to $10 million and liabilities of between $10,000,001 to
$50 million.
Judge Brian F. Kenney oversees the case.
Henry & O'Donnell, P.C., is the Debtor's legal counsel.
NBG ACQUISITION: Golub Capital Marks $362,000 Loan at 21% Off
-------------------------------------------------------------
Golub Capital BDC, Inc. has marked its $362,000 one stop loan to
NBG Acquisition Corp. to market at $286,000 or 79% of the
outstanding amount, according to Golub Capital's 10-Q for the
fiscal quarter ended June 30, 2026, filed with the U.S. Securities
and Exchange Commission.
Golub Capital is a participant in a loan extended to NBG
Acquisition. The one stop loan accrues interest at 6.23% cash and
3.50% payment-in-kind interest per annum. The one stop loan matures
in November 2030.
Golub Capital BDC, Inc. is an externally managed, closed-end,
non-diversified management investment company that primarily
invests in debt securities of middle-market companies.
The Fund is led by David B. Golub as Chief Executive Officer.
The Fund can be reached at:
David B. Golub
Golub Capital BDC, Inc.
200 Park Avenue, 25th Floor
New York, NY 10166
Telephone: (212) 750-6060
About NBG Acquisition Corp.
NBG Acquisition Corp. is a business entity that has historically
been associated with corporate buyouts, but most prominently
functions as a vehicle for specific private equity transactions or
specialized operational management.
NOLAN COUNTY HOSPITAL: Moody's Assigns 'B3' Issuer Rating
---------------------------------------------------------
Moody's Ratings has assigned a B3 issuer rating to Nolan County
Hospital District, TX and confirmed the district's Ba3 general
obligation limited tax (GOLT) bond rating. This action concludes
the review that was initiated on May 28, 2026 and reflects the
application of the updated Not-for-profit Healthcare methodology.
The outlook is stable. The district has approximately $18.4 million
in outstanding debt.
RATINGS RATIONALE
The B3 issuer rating reflects the district's weak and distressed
financial profile, with exceptionally narrow liquidity of 11 days
cash on hand, sustained negative EBIDA margins, and limited
near-term prospects for operating improvement. The rating also
incorporates the district's small rural service area, which is
economically sensitive and supported by a limited and declining
population base. The district's leverage profile is weak relative
to its constrained liquidity, with approximately $18.4 million of
debt outstanding compared with only about $1.6 million of
unrestricted cash. The rating also reflects limited forward view on
the financial trajectory and strategy.
The Ba3 rating on the district's GOLT debt reflects a growing tax
base, although one that is exposed to the volatility of the oil and
gas industry and wind energy sector, resulting in an economic
quality assessment of Baa. Rated GOLT debt service requirements are
supported by a dedicated debt service tax rate that generates
sufficient revenue to cover annual debt obligations, and the
district maintains significant headroom capacity under its
statutory maximum tax rate authorization.
RATING OUTLOOK
The stable outlook reflects Moody's views that, despite a
persistently challenged financial position, the district will
maintain sufficient tax levy capacity and revenue to meet rated
debt service obligations.
FACTORS THAT COULD LEAD TO AN UPGRADE OF THE RATINGS
-- Sustained trend of increased unrestricted liquidity and
stronger days cash
-- Maintenance of positive EBIDA margin
-- Significant economic expansion, evidenced by improved resident
income and wealth metrics
FACTORS THAT COULD LEAD TO A DOWNGRADE OF THE RATINGS
-- Failure to pay bonds on time, debt service default, and/or
plans for bankruptcy proceedings
-- Ongoing operating losses that continue to erode an already
constrained liquidity position
-- Significant reduction in supplemental funding or tax revenue
PROFILE
Nolan County Hospital District, doing business as Rolling Plains
Memorial Hospital (RPMH), is a community hospital district whose
boundaries are coterminous with Nolan County, Texas. The district
operates an 85-bed licensed hospital in Sweetwater, approximately
40 miles west of Abilene, and serves a county population estimated
at 14,500 in 2025.
METHODOLOGY
The principal methodology used in these ratings was Not-for-profit
Healthcare published in May 2026.
OGX AUSTRIA GMBH: Lord Abbett Virtually Writes Off $1.8MM Loan
--------------------------------------------------------------
Lord Abbett Investment Trust has marked its $1.8 million loan to
OGX Austria GmbH (Brazil) to market at $36 or 0.002% of the
outstanding amount, according to Lord Abbett's N-CSRS for the
fiscal quarter ended Aug. 3, 2026, filed with the U.S. Securities
and Exchange Commission.
Lord Abbett is a participant in a loan extended to OGX Austria. The
loan accrues interest at 8.50% per annum. The loan matured on June
1, 2018.
"These are securities purchased on a when-issued basis and all or a
portion of the security is temporarily on loan to unaffiliated
broker/dealers." said the Trust.
Lord Abbett Investment Trust is a registered management investment
company.
The Fund is led by Douglas B. Sieg as President and Chief Executive
Officer.
The Fund can be reached at:
Douglas B. Sieg
Lord Abbett Investment Trust
30 Hudson Street
Jersey City, NJ 07302-4804
Telephone: (888) 522-2388
About OGX Austria GmbH (Brazil)
OGX Austria GmbH (Brazil) was a special-purpose financing
subsidiary of the Brazilian oil and gas corporation OGX Petróleo e
Gás SA (part of Eike Batista's EBX group). Set up in Austria, the
firm was used to issue international bonds and manage offshore debt
before the parent company collapsed amid financial and production
difficulties in 2013.
ONE GI LLC: OFS Capital Marks $1.5MM 1L Revolver at 21% Off
-----------------------------------------------------------
OFS Capital Corp has marked its $1.5 million first lien revolver to
One GI LLC to market at $1.2 million or 79% of the outstanding
amount, according to OFS Capital's Form 10-Q for the fiscal quarter
ended July 31, 2026, filed with the U.S. Securities and Exchange
Commission.
OFS Capital is a participant in a loan extended to One GI LLC. The
first lien revolver accrues interest at 10.48% PIK per annum and
matures on August 31, 2026.
OFS Capital Corp is a business development company that provides
debt and equity financing solutions to middle-market companies in
the United States.
The Fund is led by Bilal Rashid as Chief Executive Officer.
The Fund can be reached at:
Bilal Rashid
OFS Capital Corp
222 W. Adams Street, Suite 1850
Chicago, IL 60606
Telephone: (847) 734-2000
About One GI LLC
One GI LLC is a gastroenterology-focused management services
organization.
ONE GI LLC: OFS Capital Marks $4MM 1L Debt at 21% Off
-----------------------------------------------------
OFS Capital Corp has marked its $4.0 million first lien debt in One
GI LLC to market at $3.2 million, or 79% of the outstanding amount,
according to OFS Capital's Form 10-Q for the fiscal quarter ended
July 31, 2026, filed with the U.S. Securities and Exchange
Commission.
OFS Capital is a participant in a loan extended to One GI LLC. The
first lien debt accrues interest at 10.48% PIK per annum. The first
lien debt matures on August 31, 2026.
OFS Capital Corp is a business development company that provides
debt and equity financing solutions to middle-market companies in
the United States.
The Fund is led by Bilal Rashid as Chief Executive Officer.
The Fund can be reached at:
Bilal Rashid
OFS Capital Corp
222 W. Adams Street, Suite 1850
Chicago, IL 60606
Telephone: (847) 734-2000
About ONE GI
One GI LLC is a healthcare management services organization founded
in 2020 and headquartered in Tennessee.
ONE GI LLC: OFS Capital Marks $7.6MM 1L Debt at 21% Off
-------------------------------------------------------
OFS Capital Corp has marked its $7.6 million first lien debt in One
GI LLC to market at $6.0 million or 79% of the outstanding amount,
according to OFS Capital's Form 10-Q for the fiscal quarter ended
July 31, 2026, filed with the U.S. Securities and Exchange
Commission.
OFS Capital is a participant in a loan extended to One GI LLC. The
first lien debt accrues interest at 10.48% PIK per annum. The first
lien debt matures on August 31, 2026.
OFS Capital Corp is a business development company that provides
debt and equity financing solutions to middle-market companies in
the United States.
The Fund is led by Bilal Rashid as Chief Executive Officer.
The Fund can be reached at:
Bilal Rashid
OFS Capital Corp
222 W. Adams Street, Suite 1850
Chicago, IL 60606
Telephone: (847) 734-2000
About One GI LLC
One GI LLC is a healthcare management services organization founded
in 2020 and headquartered in Tennessee.
ORACLE CORP: Lord Abbett Marks $10MM Note at 27% Off
----------------------------------------------------
Lord Abbett Investment Trust has marked its $10 million note to
Oracle Corp. to market at $7,327,606 or 73% of the outstanding
amount, according to Lord Abbett's Form N-CSRS for the fiscal
quarter ended Aug. 3, 2026, filed with the U.S. Securities and
Exchange Commission.
Lord Abbett is a participant in a loan extended to Oracle Corp. The
note accrues interest at 3.65% per annum and matures on Mar. 25,
2041.
Lord Abbett Investment Trust is a registered management investment
company.
The Fund is led by Douglas B. Sieg as President and Chief Executive
Officer.
The Fund can be reached at:
Douglas B. Sieg
Lord Abbett Investment Trust
30 Hudson Street
Jersey City, NJ 07302-4804
Telephone: (888) 522-2388
About Oracle Corp.
Oracle Corporation is an American multinational technology company
headquartered in Austin, Texas.
ORACLE CORP: Lord Abbett Marks $12MM Bond at 40% Off
----------------------------------------------------
Lord Abbett Investment Trust has marked its $12 million bond
investment in Oracle Corp. to market at $7,252,824 or 60% of the
outstanding amount, according to Lord Abbett's Form N-CSRS for the
fiscal quarter ended Aug. 3, 2026, filed with the U.S. Securities
and Exchange Commission.
Lord Abbett is a participant in a bond investment in Oracle Corp.
The bond accrues interest at 3.85% per annum. The bond matures on
Apr. 1, 2060.
Lord Abbett Investment Trust is a registered management investment
company.
The Fund is led by Douglas B. Sieg as President and Chief Executive
Officer.
The Fund can be reached at:
Douglas B. Sieg
Lord Abbett Investment Trust
30 Hudson Street
Jersey City, NJ 07302-4804
Telephone: (888) 522-2388
About Oracle Corp.
Oracle Corporation is a major American tech company based in
Austin, Texas.
ORYX SYSTEMS: Iron Horse Conducts Bankruptcy Auction
----------------------------------------------------
Iron Horse Auction Co., Inc. is conducting an online bankruptcy
auction for Oryx Systems Inc.'s assets. Bidding opened on Aug. 4.
Closing begins Aug. 11 at 2:00 p.m.
Assets up for sale include Okamoto ACC2480-iQ precision grinder,
forklift, large assortment of tools, office furniture,
manufacturing supplies, among others.
All items in this auction are selling “AS-IS, WHERE IS” with
all faults, if any.
More information can be found at https://urlcurt.com/u?l=mgfwq5
The auction manager can be reached at:
Will Lilly
Phone: (910) 997-2248
E-mail: Will@ironhorseauction.com
About Oryx Systems
Oryx Systems Inc. is a technology company providing software
solutions and systems integration services for business and
industrial applications.
Oryx Systems Inc. sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. Case No. 26-30244) on Feb. 27, 2026. In
its petition, the debtor reports estimated assets between $100,001
and $1,000,000 and estimated liabilities in the same range.
Bankruptcy Judge Ashley Austin Edwards handles the case.
The Debtor is represented by John C. Woodman, Esq. of Essex
Richards.
PACIFIC OAK: Secured Party Sets September 15, 2026 Public Auction
-----------------------------------------------------------------
In accordance with applicable provisions of the Uniform Commercial
Code (the "UCC"), as enacted in the State of Texas, NexBank, a
Texas state bank {formerly known as NexBank SSB, a Texas state
savings bank) ("Secured Party"), will offer for sale (the "Sale"),
at public auction, all right, title, and interest of Pacific Oak
SOR Richardson Acquisition I, LLC ("Pledgor"), a Delaware limited
liability company, in and to 100% of the limited liability company
membership interests, together with all economic rights and
governance rights associated therewith, in and to (a) Pacific Oak
SOR Palisades I, LLC (formerly known as JP-Palisades I, LLC), a
Texas limited liability company and (b) Pacific Oak SOR Palisades
II, LLC (formerly known as JP-Palisades II, LLC), a Texas limited
liability company (the "Collateral"). The Sale will be held on
September 15, 2026, at 1:00 p.m. (ET) and shall occur virtually via
the following Zoom meeting link https://bit.ly/NexBankUCC, Meeting
ID: 893-7925-7890, Password: 869283, Call-in number: 1-646-931-3860
(US). The Sale will be conducted by Matthew D. Mannion of Mannion
Auctions, LLC. Parties interested in bidding on the Collateral must
contact Secured Party's broker, Stephen Schwalb of Newmark at (214)
448-9228 or stephen.schwalb@nmrk.com. Upon execution of a
non-disclosure agreement, a copy of the Terms of Sale and
additional documentation and information will be made available.
Parties who do not satisfy the conditions to bid in accordance with
the terms hereof and the Terms of Sale will forfeit their
opportunity to register and may be banned from bidding.
On June 12, 2026, Secured Party, exercising its authority as agent
and attorney-in-fact for Pledgor pursuant to Article 8 of the
Pledge Agreement (i) issued to Pacific Oak Management, LLC ("POM"),
a 0.5% membership interest in each of Palisades I and Palisades II,
(ii) admitted POM as a member of each of Palisades I and Palisades
II, and (iii) appointed POM as the sole managing member of
Palisades I and Palisades II pursuant to Section 7(b) of that
certain Amended and Restated Limited Liability Company Agreement of
JP-Palisades I, LLC, dated as of April 25, 2014, and Section 7(b)
of that certain Amended and Restated Limited Liability Company
Agreement of JP-Palisades II, LLC dated as of April 25, 2014. For
the avoidance of doubt, the membership units of Palisades I and
Palisades II that are owned by POM will be included in the UCC
Sale, and a qualified bidder will have the opportunity to obtain
all issued and outstanding membership units of the Palisades I and
Palisades II entities.
Secured Party, as lender, made a loan (the "Loan") to Pacific Oak
SOR II Q&C Property, LLC a Delaware limited lability company and
Pacific Oak SOR II Q&C Operations, LLC a Delaware limited liability
company (collectively the "Borrowers") in the original principal
amount of $25,000,000.00. In connection with a June modification of
the Loan, Secured Party obtained a first-priority lien on the
Collateral pursuant to a certain Pledge and Security Agreement.
Secured Party is conducting the Sale as a result of Borrowers'
default(s) under the applicable Loan documents.
The Collateral is being offered in one or more blocks, "as-is,
where-is", with no express or implied warranties representations,
statements or conditions of any kind made by Secured Party or any
person acting or on behalf of the Secured Party, without any
recourse whatsoever to the Secured Party or any other person acting
for or on of the Secured Party and each bidder must make its own
inquiry regarding the Collateral. The successful bidder shall be
responsible for the payment of all transfer taxes, stamp duties and
similar taxes incurred in connection with the purchase of the
Collateral.
The Secured Party reserves the right to credit bid, set a minimum
reserve price, reject all bids (including without limitation any
bid that it deems to have been made by a bidder that is unable to
satisfy the requirements imposed by the Secured Party upon
prospective bidders in connection with the Sale or to whom in the
Secured Party' sole judgment a sale may not lawfully be made) and
terminate or adjourn the sale to another time, without further
notice. All bids (other than credit bids of the Secured Party) must
be for cash, and the successful bidder must be prepared to comply
with the bidding and closing requirements in the Terms of Sale.
None of the Collateral has been registered for sale under any
federal or state securities or blue sky laws, and as such may not
be sold or otherwise transferred by Secured Party or a purchaser of
any Collateral except in accordance with applicable law. The
Secured Party further reserves the right to restrict prospective
bidders to those who will represent that they are purchasing the
Collateral for their own account for investment and not with a view
to the distribution or resale of such Collateral, to verify that
each certificate for the Collateral to be sold bears a legend
substantially to the effect that such Collateral has not been
registered under the Securities Act of 1933, as amended (the
"Securities Act"), and may not be disposed of in violation of the
provisions of the Securities Act, and to impose such other
limitations or conditions in connection with the sale of the
Collateral as the Secured Party deems necessary or advisable, in
its sole discretion, in order to comply with the Securities Act or
any other applicable law or regulation.
PALOMAR HEALTH: Moody's Assigns 'B2' Issuer Rating
--------------------------------------------------
Moody's Ratings has upgraded Palomar Health, CA's revenue bond
rating to B2 from Caa1 and confirmed its general obligation
unlimited tax (GOULT) bond rating of Ba1. At the same time, Moody's
assigned a B2 issuer rating. The outlook has been revised to
positive, previously under review. This action concludes the review
for possible upgrade that was initiated on May 15, 2026. The
district has approximately $1.5 billion in outstanding debt as of
fiscal 2025, inclusive of revenue bonds, general obligation bonds,
pension and operating lease liabilities.
Assignment of the B2 issuer rating and upgrade of the revenue bonds
to B2 reflect the formation of the Palomar UCSD Health Authority, a
joint powers authority with UC San Diego Health, and the related
forbearance agreement, which materially reduce near-term default
risk. The rating also reflects improvement in governance
considerations, particularly financial strategy and risk
management, board structure and policies, and strategic oversight
through UC San Diego Health's involvement. In addition, the
structure enhances financial flexibility through committed capital
support, improved liquidity access, and planned operational
integration, although the long-term benefits of the partnership and
operating turnaround remain to be demonstrated.
RATINGS RATIONALE
The B2 issuer rating incorporates UCSD's significant strategic
commitment to the organization, including capital investments,
operational integration, service line development, and enhanced
oversight, which improve Palomar's long-term strategic positioning
and prospects for financial recovery. The rating also reflects
improving operating performance following several years of
financial stress, including a return to positive hospital-level
earnings and stronger cash flow generation. Stable property tax
revenues and a favorable market position in North San Diego County
provide additional support to the credit profile. Constraining the
rating are Palomar's weak liquidity, continued financial execution
risk, substantial losses and cash support requirements at Palomar
Health Medical Group, and the fact that many of the anticipated
benefits of the UCSD affiliation remain prospective and dependent
on successful execution of strategic, operational, and integration
initiatives. While management projects gradual liquidity
improvement, days cash on hand is expected to remain below 20 days
through fiscal 2028, providing limited covenant headroom and
leaving the organization vulnerable to operating underperformance.
The rating further reflects the system's highly leveraged balance
sheet and limited current financial flexibility relative to
higher-rated peers.
The B2 revenue bond ratings reflects Palomar Health's B2 issuer
rating and the general obligation characteristics of the debt.
Confirmation of the Ba1 GOULT rating reflects Palomar Health's core
credit quality, the dedicated tax-backed pledge, and Moody's
assessments of the economic base as Aaa. The district's economic
assessment which incorporates the strength of the district's large
and growing tax base and favorable structural characteristics
including a "lockbox" mechanism under which San Diego County (Aaa
stable) sends property taxes directly to the Trustee for payment of
debt service as well as a statutory lien. The GOULT pledge provides
the authority to levy an unlimited ad valorem tax if needed.
RATING OUTLOOK
The positive outlook reflects Moody's expectations that the UCSD
affiliation will support continued improvement in operating
performance, liquidity, and financial flexibility over the next 12
to 24 months through operational integration, strategic
investments, and execution of growth initiatives. The outlook also
reflects the potential for further strengthening of the enterprise
as additional transaction benefits are realized.
FACTORS THAT COULD LEAD TO AN UPGRADE OF THE RATINGS
-- Further integration and realization of benefits associated with
the Authority structure
-- Meaningfully improved liquidity and financial flexibility
-- Sustained positive EBIDA and improved EBIDA margins
FACTORS THAT COULD LEAD TO A DOWNGRADE OF THE RATINGS
-- Deterioration in liquidity or financial flexibility that
results in a covenant breach
-- Weaker-than-expected financial performance and cash flow
generation
-- Failure to realize anticipated benefits from the UCSD
affiliation and broader turnaround strategy
PROFILE
Palomar Health is California's largest public healthcare district.
Effective June 30, 2026, the district transferred substantially all
healthcare operations into the newly formed Palomar UCSD Health
Authority, a joint powers authority with UC San Diego Health that
operates the system's hospitals, physician enterprise, and related
healthcare services across North San Diego County.
METHODOLOGY
The principal methodology used in these ratings was Not-for-profit
Healthcare published in May 2026.
PERFORCE SOFTWARE: New Mountain Marks $4.01MM Loan 48% Off
----------------------------------------------------------
New Mountain Finance Corp has marked its $4,015,000 loan to
Perforce Software, Inc. to market at $2,072,000 or 51% of the
outstanding amount, according to New Mountain's Form 10-Q for the
fiscal quarter ended Aug. 3, 2026, filed with the U.S. Securities
and Exchange Commission.
New Mountain is a participant in a loan extended to Perforce
Software. The loan accrues interest at 8.39% per annum and matures
in March 2031.
New Mountain Finance Corporation is a closed-end, externally
managed, non-diversified management investment company that
operates as a business development company, primarily investing in
middle-market companies in the United States.
The Fund is led by John R. Kline as President, Chief Executive
Officer (Principal Executive Officer) and Director.
The Fund can be reached at:
John R. Kline
New Mountain Finance Corporation
1633 Broadway, 48th Floor
New York, NY 10019
Telephone: (212) 720-0300
About PERFORCE SOFTWARE, INC.
Limited information about Perforce Software, Inc. was disclosed in
the filing.
PHOENIX FUND: Seeks to Use Cash Collateral Until Aug. 31
--------------------------------------------------------
Driven, P.S.C., acting as the court-appointed receiver and
authorized debtor-in-possession representative for the bankruptcy
estate of The Phoenix Fund LLC, ask the U.S. Bankruptcy Court for
the District of Puerto Rico for authority to use cash collateral
and funds held in a $22 million escrow account located at Banco
Popular de Puerto Rico.
The Fund filed a voluntary Chapter 11 petition following Driven's
appointment as receiver by the Office of the Commissioner of
Financial Institutions of Puerto Rico on February 18, 2026—an
appointment confirmed by bankruptcy court order on March 11, 2026.
The Receiver seeks an order directing BPPR to disburse the entire
$22 million escrow deposit into the Receiver’s
debtor-in-possession account, while strictly limiting immediate
expenditure authority to $1,849,419 (plus a 10% permitted variance)
to cover previously approved administrative fees and liquidation
expenses through August 31, 2026.
The background of the Restricted Account stems from a December 15,
2022 Escrow Agreement and a December 16, 2022 Pledge Agreement
between the Fund, BPPR, and the Puerto Rico Department of the
Treasury regarding a $117 million tax credit concession granted to
Dorado Health Group LLC under the Puerto Rico Tourism Development
Act of 2010. The Fund deposited $22 million in escrow as a guaranty
on behalf of Dorado Health and pledged its ownership interest to
Treasury. However, because Treasury failed to file a financing
statement or execute a deposit account control agreement required
under Puerto Rico law to perfect its security interest, the funds
constitute unperfected property of the estate under 11 U.S.C.
section 541(a)(1) and represent cash collateral subject to the
security interest of primary creditor FCS Advisors, LLC d/b/a
Brevet Capital Advisors.
The motion emphasizes an urgent liquidity shortfall. Although the
Court previously granted interim orders approving cash collateral
stipulations with both Brevet and United States Insurance Trust,
USIC failed to deliver its required collateral to the Receiver,
leaving the estate without sufficient cash to satisfy operating and
administrative expenses beyond June 30, 2026. Because the Receiver
is not seeking duplicate relief or an increase in the budget, but
merely substituting liquidity sources to execute the exact
$1,849,419 budget previously agreed to by Brevet and authorized by
the Court, the Receiver offers Brevet the identical adequate
protection terms already approved under the prior Brevet Interim
Order. Accessing these funds is vital to maintain receivership
operations, investigate 26 subsidiary entities, and formulate an
orderly Chapter 11 plan of liquidation to maximize estate value.
A copy of the motion is available at https://urlcurt.com/u?l=Vl6Hze
from PacerMonitor.com.
About The Phoenix Fund
LLC
The Phoenix Fund, LLC is a Puerto Rico based private equity firm
formed in 2018 and headquartered in Guaynabo, Puerto Rico. The
company focuses on making strategic equity and debt investments in
privately held businesses in Puerto Rico and international
markets.
Phoenix Fund sought relief under Chapter 11 of the Bankruptcy Code
(Bankr. D.P.R. Case No. 26-00712) on Feb. 23, 2026. In its
petition, the Debtor listed assets between $500 million and $1
billion and estimated liabilities between $100 million and $500
million.
Honorable Bankruptcy Judge Enrique S. Lamoutte Inclan handles the
case.
The Debtor is represented by Alexis Fuentes Hernandez, Esq. of
Fuentes Law Offices, LLC.
Acrecent Financial, as secured creditor, is represented by
McConnell Valdes, LLC.
Driven, P.S.C., as receiver, is represented by Luis C.
Marini-Biaggi, Esq. and Ignacio J. Labarca-Morales, at Marini
Pietrantoni Muniz LLC.
FCS Advisors, LLC, d/b/a Brevet Capital Advisors, as secured
lender, is represented by Margarita Mercado Echegaray, Esq. and
Sonia Torres, Esq. at DLA Piper (Puerto Rico) LLC and Jamila
Justine Willis, Esq. and Malithi P. Fernando, Esq. at DLA Piper LLP
(US).
PLANET BINGO: OFS Capital Marks $16.6MM 1L Debt at 53% Off
----------------------------------------------------------
OFS Capital Corp has marked its $16.6 million first lien debt
position in Planet Bingo, LLC F/K/A 3rd Rock Gaming Holdings, LLC
to market at $7.2 million or 47% of the outstanding amount,
according to OFS Capital's Form 10-Q for the fiscal quarter ended
July 31, 2026, filed with the U.S. Securities and Exchange
Commission.
OFS Capital is a participant in a loan extended to Planet Bingo,
LLC F/K/A 3rd Rock Gaming Holdings, LLC. The first lien debt
accrues interest at 6.50% per annum and matures on December 31,
2027.
OFS Capital Corp is a business development company that provides
debt and equity financing solutions to middle-market companies in
the United States.
The Fund is led by Bilal Rashid as Chief Executive Officer.
The Fund can be reached at:
Bilal Rashid
OFS Capital Corp
222 W. Adams Street, Suite 1850
Chicago, IL 60606
Telephone: (847) 734-2000
About Planet Bingo, LLC F/K/A 3rd Rock Gaming
Holdings, LLC
Planet Bingo LLC operates as manufacturer and developer of gaming
software and proprietary gaming tablets.
PLANET BINGO: OFS Capital Marks $16.6MM 1L Debt at 56% Off
----------------------------------------------------------
OFS Capital Corp has marked its $16.6 million first lien debt to
Planet Bingo, LLC (F/K/A 3rd Rock Gaming Holdings, LLC) to market
at $7.2 million, or 44% of the outstanding amount, according to OFS
Capital's Form 10-Q for the fiscal quarter ended July 31, 2026,
filed with the U.S. Securities and Exchange Commission.
OFS Capital is a participant in a loan extended to Planet Bingo,
LLC (F/K/A 3rd Rock Gaming Holdings, LLC). The first lien debt
accrues interest at 6.50% per annum and matures on December 31,
2027.
OFS Capital Corp is a business development company that provides
debt and equity financing solutions to middle-market companies in
the United States.
The Fund is led by Bilal Rashid as Chief Executive Officer.
The Fund can be reached at:
Bilal Rashid
OFS Capital Corp
222 W. Adams Street, Suite 1850
Chicago, IL 60606
Telephone: (847) 734-2000
About Planet Bingo, LLC (F/K/A 3rd Rock Gaming
Holdings, LLC)
Planet Bingo LLC operates as manufacturer and developer of gaming
software and proprietary gaming tablets. The Company provides
hardware products such as PhD, PhD 3T, RNG ball call system, mobile
point of sale, and multi panel video flashboards as well as offers
mobile apps, planet poker, and other software solutions. Planet
Bingo serves customers worldwide.
PLATINUM HEALTHCARE: Daniel Etlinger Named Subchapter V Trustee
---------------------------------------------------------------
The Acting U.S. Trustee for Region 21 appointed Daniel Etlinger of
Underwood Murray, P.A. as Subchapter V trustee for Platinum
Healthcare Physical Medicine, PLLC.
Mr. Etlinger will be paid an hourly fee of $400 for his services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.
Mr. Etlinger declared that he is a disinterested person according
to Section 101(14) of the Bankruptcy Code.
The Subchapter V trustee can be reached at:
Daniel E. Etlinger
Underwood Murray, P.A.
100 N. Tampa Street, Suite 2325
Tampa Florida 33602
(813) 540-8401
Email: detlinger@underwoodmurray.com
About Platinum Healthcare Physical Medicine PLLC
Platinum Healthcare Physical Medicine, PLLC operates outpatient
physical-medicine and rehabilitation clinics in Sarasota and North
Port, Florida, providing chiropractic care, spinal decompression,
neuropathy treatment, non-surgical pain management,
regenerative-medicine evaluations, and care for automobile-accident
and musculoskeletal injuries.
Platinum filed a petition under Chapter 11, Subchapter V of the
Bankruptcy Code (Bankr. M.D. Fla. Case No. 26-06901) on August 3,
2026, with $50,001 to $100,000 in assets and $1 million to $10
million in liabilities.
Judge Catherine Peek Mcewen presides over the case.
Samantha L. Dammer, Esq., at Bleakley Bavol Denman & Grace
represents the Debtor as legal counsel.
PLATINUM RECRUITING: H. Faith Welch Named Subchapter V Trustee
--------------------------------------------------------------
The Acting U.S. Trustee for Region 10 appointed H. Faith Welch as
Subchapter V trustee for Platinum Recruiting Group, Inc.
Ms. Welch will be paid an hourly fee of $325 for her services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.
Ms. Welch declared that she is a disinterested person according to
Section 101(14) of the Bankruptcy Code.
The Subchapter V trustee can be reached at:
H. Faith Welch
444 E. Main St.
Fort Wayne, IN 46802
Telephone: (260) 399-1578
Email: fwelch@hallercolvin.com
About Platinum Recruiting Group Inc.
Platinum Recruiting Group Inc., founded in 2008 and based in
Carmel, Indiana, provides executive search and staffing services
for accounting and finance, information technology, human
resources, manufacturing, operations and supply-chain positions,
serving emerging businesses and Fortune 500 companies through
contingency, retained and national searches.
Platinum Recruiting Group filed a petition under Chapter 11,
Subchapter V of the Bankruptcy Code (Bankr. S.D. Ind. Case No.
26-04997) on July 31, 2026, with $100,000 to $500,000 in assets and
$1 million to $10 million in liabilities. Brian McCall, in his
capacity as chief executive officer and owner, signed the
petition.
Judge James M. Carr presides over the case.
Laura DuVall, Esq., at Rochelle McCullough, LLP, represents the
Debtor as legal counsel.
PLURALSIGHT LLC: Golub Capital Marks $7.4MM Loan at 77% Off
-----------------------------------------------------------
Golub Capital BDC, Inc. has marked its $7.4 million one stop loan
to Pluralsight, LLC to market at $1.7 million, or 23% of the
outstanding amount, according to Golub Capital's Form 10-Q for the
fiscal quarter ended June 30, 2026, filed with the U.S. Securities
and Exchange Commission.
Golub Capital is a participant in a loan extended to Pluralsight.
The one stop facility accrues interest at SF + 7.50% per annum. The
one stop facility matures in August 2029.
Golub Capital BDC, Inc. is an externally managed, closed-end,
non-diversified management investment company that primarily
invests in debt securities of middle-market companies.
The Fund is led by David B. Golub as Chief Executive Officer.
The Fund can be reached at:
David B. Golub
Golub Capital BDC, Inc.
200 Park Avenue, 25th Floor
New York, NY 10166
Telephone: (212) 750-6060
About Pluralsight, LLC
Pluralsight, LLC is an American privately held online education
company that offers a variety of video training courses for
software developers, IT administrators, and creative professionals
through its website.
POWER STOP: Moody's Upgrades CFR to B3, Outlook Stable
------------------------------------------------------
Moody's Ratings upgraded the ratings of Power Stop, LLC (Power
Stop), including its corporate family rating to B3 from Caa1, the
probability of default rating to B3-PD from Caa1-PD, and its senior
secured bank credit facility to B3 from Caa1. The outlook remained
stable.
The upgrade reflects Moody's expectations that revenue will
continue to grow driven by pricing actions and higher volumes
following more than a year of volume declines. Moody's expects
earnings to benefit from strategic initiatives and lower tariffs,
allowing debt/EBITDA to decline to under 5.0x by year-end 2026. The
increase in earnings will improve free cash flow to about $30
million after required tax distributions.
Governance was a key consideration in this rating action because of
enhanced financial strategies and risk management practices, which
contribute to greater financial flexibility. The credit impact
score was revised to CIS-4 from CIS-5 to reflect the shift in
governance risk. The CIS-4 indicates that the rating is lower than
it would have been if ESG risk exposures did not exist.
RATINGS RATIONALE
Power Stop's B3 CFR reflects the company's modest scale in terms of
revenue in the automotive aftermarket, as well as limited business
and product diversity given its sole focus on aftermarket brakes.
The rating is supported by Power Stop's strong competitive position
and brand recognition among automotive enthusiasts in the
do-it-yourself (DIY) and do-it-for-me (DIFM) categories. Further,
the company maintains a high EBITA margin of over 20%, supported by
its premium brake kit products and a sales mix weighted toward
online retailers.
Operating results have historically been volatile, in part because
of declining unit volumes. After several quarters of contraction,
volumes stabilized in the first quarter of 2026. Furthermore,
Moody's anticipates volumes to increase further, supported by a
more favorable competitive environment and initiatives to expand
distribution channels.
Moody's expects debt-to-EBITDA to decline to below 5.0x at year-end
2026 from 5.5x for the 12 months ended March 31, 2026, driven by
higher earnings from improved volumes, prior pricing actions, lower
tariffs and operational efficiencies.
Moody's expects Power Stop's liquidity to be adequate, supported by
ample availability under its revolver, a modest cash position, and
positive free cash flow after required tax distributions. As of
March 31, 2026, the company had total liquidity of $77 million,
including $37 million of cash and full availability on its $40
million revolver due in 2028. The revolver is subject to a
springing first lien net leverage covenant if over 40% is drawn.
Moody's expects Power Stop will remain in compliance with this
covenant during the next 12-18 months. There are no near term debt
maturities until the revolver expires in October 2028.
The stable outlook reflects Moody's expectations that revenue will
grow from an uptick in volumes and prior pricing actions. EBITA
margins should improve as a result of lower tariffs and strategic
initiatives, allowing debt/EBITDA to decline over the next several
quarters.
FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS
The ratings could be upgraded if Power Stop increases its scale and
product diversification while maintaining strong, consistent
operating results. Debt/EBITDA approaching 5.0x and sustained
positive free cash flow would support a ratings upgrade.
The ratings could be downgraded if revenue and earnings decline. An
expectation for debt/EBITDA to be sustained above 6.0x or an
erosion of liquidity with negative free cash flow and decreased
revolver availability could also result in a ratings downgrade.
The principal methodology used in these ratings was Automotive
Suppliers published in November 2025.
Power Stop, LLC sells brake kits, components and related
accessories through major online retailers and traditional
warehouse distributors. Revenue was $295 million for the 12 months
ended March 31, 2026. The company is majority owned by private
equity firm TSG Consumer Partners.
PPVA BLACK: New Mountain Marks $14.5MM Subordinated Loan 81% Off
----------------------------------------------------------------
New Mountain Finance Corp has marked its $14,500,000 subordinated
loan to PPVA Black Elk (Equity) LLC to market at $2,755,000 or 19%
of the outstanding amount, according to New Mountain's Form 10-Q
for the fiscal quarter ended Aug. 3, 2026, filed with the U.S.
Securities and Exchange Commission.
New Mountain is a participant in a loan extended to PPVA Black Elk.
The subordinated loan does not have a stated interest rate or
maturity date disclosed in the filing.
New Mountain Finance Corp is a closed-end, externally managed,
non-diversified management investment company that operates as a
business development company, primarily investing in middle-market
companies in the United States.
The Fund is led by John R. Kline as President, Chief Executive
Officer (Principal Executive Officer) and Director.
The Fund can be reached at:
John R. Kline
New Mountain Finance Corporation
1633 Broadway, 48th Floor
New York, NY 10019
Telephone: (212) 720-0300
About PPVA Black Elk (Equity) LLC
Limited information about PPVA Black Elk (Equity) LLC was available
in the filing.
PROJECT ALPHA: New Mountain Marks $9.8MM 2L Loan 27% Off
--------------------------------------------------------
New Mountain Finance Corp has marked its $9,659,000 loan to
Project Alpha Intermediate Holding, Inc. to market at $7,056,000 or
73% of the outstanding amount, according to New Mountain's 10-Q for
the fiscal quarter ended Aug. 3, 2026, filed with the U.S.
Securities and Exchange Commission.
New Mountain is a participant in a loan extended to Project Alpha.
The second lien loan accrues interest at 6.98% per annum. The loan
matures in Oct. 2030.
New Mountain Finance Corp is a closed-end, externally managed,
non-diversified management investment company that operates as a
business development company, primarily investing in middle-market
companies in the United States.
The Fund is led by John R. Kline as President, Chief Executive
Officer (Principal Executive Officer) and Director.
The Fund can be reached at:
John R. Kline
New Mountain Finance Corporation
1633 Broadway, 48th Floor
New York, NY 10019
Telephone: (212) 720-0300
About PROJECT ALPHA INTERMEDIATE
HOLDING, INC.
Limited public information about Project Alpha Intermediate
Holding, Inc. was available in the filing.
PROSSER PUBLIC HOSPITAL: Moody's Assigns Ba1 Issuer Rating
----------------------------------------------------------
Moody's Ratings has assigned a Ba1 issuer rating to Prosser Public
Hospital District, WA's (Prosser) and downgraded the general
obligation limited tax (GOLT) bond rating to Ba1 from A3. This
action concludes the review for possible downgrade that was
initiated on May 28, 2026 and reflects the application of the
updated Not-for-profit Healthcare methodology. The outlook has been
revised to stable, previously under review. Prosser had
approximately $87M in total debt outstanding at fiscal 2025.
RATINGS RATIONALE
The Ba1 issuer rating balances Prosser's strong financial
performance and good market position as a Critical Access Hospital
(CAH) against its very small scale and weak leverage position.
Prosser's track record of EBIDA margins over 12% is a key offset to
its smaller scale of under $250M in operating revenue. Prosser
benefits from high demand and strong revenue growth given its
recently opened replacement hospital as well as a growing clinical
outpatient footprint. Prosser's market position draws both patients
and providers from a broader service area with larger competitors.
The replacement hospital drove an increase in leverage in recent
years, with cash to adjusted debt of under 50%. Continued capital
growth could further pressure leverage measures. Liquidity, while
adequate at around 80-100 days, remains thin at an absolute level.
While Prosser benefits from a tax levy of around $1M/year, it is
minimal relative to operations and total debt service.
The Ba1 GOLT rating reflects Prosser's fundamental credit quality
and the full faith and credit pledge of the district which includes
all available revenues and a limited tax pledge that is not
dedicated for the debt.
RATING OUTLOOK
The stable outlook reflects the likelihood that Prosser will
continue to generate double-digit EBIDA margins, supporting gradual
growth in days cash on hand.
FACTORS THAT COULD LEAD TO AN UPGRADE OF THE RATINGS
-- Material improvement in leverage with unrestricted cash to
total adjusted debt of at least 50%-60%
-- Improved liquidity position, including days cash approaching
140
-- Growth in scale and scope of services
FACTORS THAT COULD LEAD TO A DOWNGRADE OF THE RATINGS
-- Sustained weakening of EBIDA margins driving adjusted debt to
adjusted cash flow sustained above 5x
-- Reduced headroom to days cash on hand covenant (60 days,
semi-annual)
-- Continued weakening of leverage profile, including cash to
adjusted debt below 30%
PROFILE
Prosser Public Hospital District, Washington currently operates as
PMH Medical Center, a full-service Critical Access Hospital with 25
licensed beds, located in Prosser, the county seat of Benton County
in south-central Washington.
METHODOLOGY
The principal methodology used in these ratings was Not-for-profit
Healthcare published in May 2026.
PROTEUS MOLECULAR: William Schilling Named Subchapter V Trustee
---------------------------------------------------------------
J. Thomas Corbett, the U.S. Bankruptcy Administrator for the
Northern District of Alabama, appointed William Dennis Schilling as
Subchapter V trustee for Proteus Molecular and Clinical Lab, LLC
and Proteus Genomics, LLC.
About Proteus
Proteus Molecular and Clinical Lab, LLC and Proteus Genomics, LLC
sought protection under Chapter 11 of the U.S. Bankruptcy Code
(Bankr. N.D. Ala. Lead Case No. 26-02658) on August 3, 2026. At the
time of the filing, the Debtors reported between $1 million and $10
million in both assets and liabilities.
Judge Tamara O. Mitchell presides over the cases.
Bill D. Bensinger, Esq., at Christian & Small, LLP represents the
Debtors as legal counsel.
QTP II INC: Seeks Subchapter V Bankruptcy in Texas
--------------------------------------------------
On July 31, 2026, QTP II Inc. filed for Chapter 11 protection in
the Southern District of Texas. According to court filings, the
Debtor reports between $1 million and $10 million in debt owed to
between 1 and 49 creditors.
A meeting of creditors under Section 341(a) to be held on September
1, 2026 at 10:00 AM, US Trustee Corpus Christi Teleconference.
Government Claims deadline set for January 27, 2027
About QTP II Inc.
QTP II Inc. operates an outpatient rehabilitation clinic and
at-home therapy service. The Debtor sought protection under Chapter
11 of the U.S. Bankruptcy Code (Bankr. S.D. Tex. Case No. 26-70236)
on July 31, 2026. In the petition signed by Michael Hernandez,
president, the Debtor disclosed up to $500,000 in assets and up to
$10 million in liabilities.
Judge Eduardo V. Rodriguez oversees the case.
Robert C Lane, Esq., at the Lane Law Firm, represents the Debtor as
legal counsel.
QUIDELORTHO CORP: Moody's Cuts CFR to B2 & Alters Outlook to Neg.
-----------------------------------------------------------------
Moody's Ratings downgraded the ratings of QuidelOrtho Corporation
("QuidelOrtho"), including the Corporate Family Rating to B2 from
B1 and the Probability of Default Rating to B2-PD from B1-PD. At
the same time, Moody's downgraded the senior secured bank credit
facility (revolving credit facility, term loan A, delayed-draw term
loan A, and term loan B) rating to B2 from B1. The Speculative
Grade Liquidity Rating was also downgraded to SGL-3 from SGL-2,
signifying adequate liquidity. Moody's revised the outlook to
negative from stable.
The ratings downgrade follows QuidelOrtho's notable downward
earnings guidance revision for revenue and adjusted EBITDA in
conjunction with second quarter fiscal 2026 results. As a result,
Moody's expects debt/EBITDA to remain above 6x on Moody's basis
over the next 12 to 18 months, absent any portfolio rationalization
activities. In addition, while Moody's considers liquidity as
adequate, free cash flow generation will likely remain pressured
relative to the company's debt burden. Moody's also expects
leverage covenant headroom to continue narrowing absent a covenant
waiver.
The revision in outlook to negative reflects Moody's expectations
that debt/EBITDA will remain elevated above 6x over the next 12 to
18 months, absent any portfolio rationalization activities. The
outlook also incorporates Moody's expectations that the company
will have limited free cash flow generation and tightening leverage
covenant cushion.
RATINGS RATIONALE
QuidelOrtho's B2 CFR reflects Moody's expectations that financial
leverage will increase to the mid-6x range by the end of fiscal
2026 before improving toward 6x in fiscal 2027. The rating is also
constrained by the company's moderate scale relative to larger
diagnostics and life sciences peers and its limited free cash flow
generation since the 2022 merger, which Moody's expects will remain
pressured over the next 12 to 18 months. The rating is further
constrained by ongoing revenue pressure in certain geographies and
weaker-than-expected respiratory season trends.
Offsetting these challenges are QuidelOrtho's diversified customer
base, broad product portfolio, and geographic footprint, as well as
the stability provided by its large installed instrument base and
recurring consumables and service revenue streams.
The Speculative Grade Liquidity Rating of SGL-3 reflects Moody's
expectations that QuidelOrtho's liquidity will be adequate over the
next 12 months. QuidelOrtho has approximately $123 million of cash
on hand as of June 28, 2026. Moody's expects QuidelOrtho will not
generate positive free cash flow over the next 12 months. Further,
as of June 28, 2026, QuidelOrtho has approximately $250 million
outstanding on its $700 million revolving credit facility that
expires in 2030. The company's revolving credit facility and term
loan A facilities are subject to two financial maintenance
covenants - a maximum consolidated net leverage ratio of 4.50x, as
well as a minimum consolidated interest coverage ratio of 3.0x. The
term loan B does not have any financial covenants. Moody's expects
QuidelOrtho's cushion under its leverage ratio covenant to remain
very limited over the next 12 months.
The B2 rating of QuidelOrtho's senior secured first lien bank
credit facilities, comprised of a $700 million revolving credit
facility, $1.15 billion term loan A, $100 million delayed-draw term
loan A, and $1.45 billion term loan B, is the same as the B2 CFR.
This reflects that the first lien secured credit facilities
represent the preponderance of debt within the company's capital
structure.
The outlook is negative, reflecting Moody's expectations that
debt/EBITDA will remain elevated above 6x over the next 12 to 18
months, absent any portfolio rationalization activities. The
outlook also incorporates Moody's expectations that the company
will have limited free cash flow generation and tightening leverage
covenant cushion.
FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS
The ratings could be downgraded if QuidelOrtho's operating
performance weakens such that revenue and EBITDA further decline.
The ratings could also be downgraded if QuidelOrtho exhibits more
aggressive financial policies, such as large debt-funded M&A or
share repurchases. QuidelOrtho's ratings could also be downgraded
if liquidity further weakens, evidenced by sustained negative free
cash flow generation or further significant utilization of its
revolving credit facility. Quantitatively, the ratings could be
downgraded if debt-to-EBITDA were sustained above 6.0 times on a
Moody's adjusted basis.
QuidelOrtho's ratings could be upgraded if the company demonstrates
sustained improvement in revenue growth and profitability while
maintaining balanced financial policies. The ratings could also be
upgraded if the company notably improves its liquidity position,
supported by consistently positive free cash flow generation.
Quantitatively, QuidelOrtho's ratings could be upgraded if
debt-to-EBITDA were to be sustained below 5.0 times on a Moody's
adjusted basis.
Headquartered in San Diego, California, QuidelOrtho Corporation
("QuidelOrtho") is a manufacturer of diagnostic testing solutions
used in professional settings such as physician offices, hospitals,
clinical laboratories, reference laboratories, urgent care clinics,
universities, retail clinics, pharmacies, as well as for
non-professional, over-the-counter use (i.e., QuickVue At-Home
COVID-19 test). The company has four main operating segments –
Labs, Point of Care, Molecular Diagnostics, and Immunohematology.
QuidelOrtho generated revenues of approximately $2.7 billion in the
last twelve months ended June 28, 2026.
The principal methodology used in these ratings was Medical
Products and Devices published in October 2025.
RELIABLE MOVERS: Unsecured Creditors to Split $10K in Plan
----------------------------------------------------------
Reliable Movers, LLC, filed with the U.S. Bankruptcy Court for the
Western District of Washington a Plan of Reorganization dated
August 3, 2026.
The Debtor is a local moving company that has served customers
throughout the Puget Sound region since May 1996. The company
focuses on providing moving services for local business customers
and has built its business through reliable service, repeat
customers, and a strong community reputation.
During the COVID-19 pandemic, the company obtained an Economic
Injury Disaster Loan (EIDL) from the U.S. Small Business
Administration to help cover operating costs. Although the business
continued operating after the pandemic, it experienced declining
revenue due to broader economic conditions.
To retain employees and cover operating expenses during periods of
reduced revenue, the company obtained several high-interest
merchant cash advance loans. The resulting payment obligations
significantly reduced cash flow and created a cycle in which
additional loans were needed to fund operations.
Shortly before filing bankruptcy, the company discovered that its
business telephone number had been rerouted, preventing it from
receiving calls from prospective customers. During that period, it
relied primarily on referrals for new business. The phone issue has
since been resolved.
Facing reduced business activity, economic challenges, and
aggressive collection efforts from lenders, the debtor filed a
Chapter 11, Subchapter V bankruptcy petition on May 4, 2026.
Class 1 consists of the secured claim held by Headway Capital,
LLC:
* Headway Capital asserts a claim of $171,816.44 secured by the
debtor's business assets.
* The plan treats $58,087.54 as the secured portion of the claim.
* The debtor will make monthly payments of $1,300, beginning on
the 20th of the month following payment in full to Neeleman Law
Group.
* Interest on the secured portion will accrue at 5.00% beginning
on the effective date.
* The remaining $113,728.90 will be treated as a Class 2 unsecured
claim.
General Unsecured Claims (Class 2). Allowed Class 2 claims will
receive:
* A pro rata share of $10,000.
* Monthly payments of $200, beginning on the 20th of the month
following payment in full to Neeleman Law Group.
* The debtor may instead pay each creditor's total plan
distribution in a single lump-sum payment to improve efficiency.
Class 2 also includes the claims of National Funding, Inc. and SCJ
Commercial Financial Services, which are treated as unsecured
because the debtor's assets have no remaining value to secure their
claims after satisfaction of Headway Capital's first priority
security interest.
Under the plan:
* These claims are reclassified as unsecured.
* National Funding, Inc. and SCJ Commercial Financial Services
will not retain liens against the debtor's assets.
The plan will be funded from the debtor's ongoing business
operations.
The debtor projects that:
* Income and expenses have been annualized over the plan term.
* Fixed operating expenses will remain relatively stable.
* Variable expenses will increase proportionately with revenue.
* Income and expenses are expected to remain generally consistent
throughout the plan.
Feasibility
The debtor states that sufficient funds will be available to begin
making the proposed plan payments and believes its financial
projections demonstrate that it can complete the plan without
requiring liquidation or another financial reorganization.
A full-text copy of the Plan of Reorganization dated August 3, 2026
is available at https://urlcurt.com/u?l=XeKj70 from
PacerMonitor.com at no charge.
Counsel to the Debtor:
Jennifer L. Neeleman, Esq.
Neeleman Law Group, P.C.
1403 8th Street
Marysville, WA 98270
Telephone: (425) 212-4800
Facsimile: (425) 212-4802
E-mail: jennifer@neelemanlaw.com
About Reliable Movers
Reliable Movers, LLC provides moving and relocation services. The
company sought relief under Chapter 11 of the U.S. Bankruptcy Code
(Bankr. W.D. Wash. Case No. 26-11489) on May 4, 2026. In its
petition, the debtor reported estimated assets ranging from $0 to
$100,000 and estimated liabilities between $1 million and $10
million.
Honorable Bankruptcy Judge Christopher M. Alston handles the case.
The debtor is represented by Thomas D. Neeleman of Neeleman Law
Group PC.
RLG HOLDINGS: New Mountain Finance Marks $7.1MM Loan 42% Off
------------------------------------------------------------
New Mountain Finance Corp has marked its $7,147,000 loan to RLG
Holdings, LLC to market at $4,114,000 or 58% of the outstanding
amount, according to New Mountain's 10-Q for the fiscal quarter
ended August 3, 2026, filed with the U.S. Securities and Exchange
Commission.
New Mountain is a participant in a loan extended to RLG Holdings.
The loan accrues interest at 8.18% per annum and matures in July
2028.
New Mountain Finance Corp is a closed-end, externally managed,
non-diversified management investment company that operates as a
business development company, primarily investing in middle-market
companies in the United States.
The Fund is led by John R. Kline as President, Chief Executive
Officer (Principal Executive Officer) and Director.
The Fund can be reached at:
John R. Kline
New Mountain Finance Corporation
1633 Broadway, 48th Floor
New York, NY 10019
Telephone: (212) 720-0300
About RLG Holdings, LLC
Limited information about RLG Holdings, LLC was available in the
fund's filing.
RLG HOLDINGS: New Mountain Marks $1.1MM 1L Loan 42% Off
-------------------------------------------------------
New Mountain Finance Corporation has marked its $1,191,000 loan to
RLG Holdings, LLC to market at $685,000 or 58% of the outstanding
amount, according to New Mountain's Form 10-Q for the fiscal
quarter ended Aug. 3, 2026, filed with the U.S. Securities and
Exchange Commission.
New Mountain is a participant in a first lien loan extended to RLG
Holdings. The first lien loan accrues interest at 8.08% per annum.
The loan matures in July 2028.
New Mountain Finance Corp is a closed-end, externally managed,
non-diversified management investment company that operates as a
business development company, primarily investing in middle-market
companies in the United States.
The Fund is led by John R. Kline as President, Chief Executive
Officer (Principal Executive Officer) and Director.
The Fund can be reached at:
John R. Kline
New Mountain Finance Corporation
1633 Broadway, 48th Floor
New York, NY 10019
Telephone: (212) 720-0300
About RLG Holdings, LLC
Limited information about RLG Holdings, LLC was available in the
filing.
RQM+ CORP: SLR Investment Marks $26.7MM 1L Loan at 30% Off
----------------------------------------------------------
SLR Investment Corp. has marked its $26.7 million first lien bank
debt/senior secured loan to RQM+ Corp. to market at $18.7 million
or 70% of the outstanding amount, according to SLR Investment's
Form 10-Q for the fiscal quarter ended August 4, 2026, filed with
the U.S. Securities and Exchange Commission.
SLR Investment is a participant in a loan extended to RQM+ Corp.
The first lien bank debt/senior secured loan matures in August
2029.
SLR Investment Corp. is a business development company that
provides financing solutions to middle-market companies.
The Fund is led by Michael S. Gross as Co-Chief Executive Officer.
The Fund can be reached at:
Michael S. Gross
SLR INVESTMENT CORP.
500 Park Avenue
New York, NY 10022
Telephone: (212) 993-1670
About RQM+ Corp.
RQM+ Corp. provides medical devices and consulting services. The
Company offers consulting, clinical trial, lab, and reimbursement
services, as well as technology, digital therapeutics, and
diagnostics solutions. RQM+ serves clients worldwide.
RQM+ CORP: SLR Investment Marks $6.7MM Loan at 30% Off
------------------------------------------------------
SLR Investment Corp. has marked its $6.7 million loan to RQM+ Corp.
to market at $4.7 million or 70% of the outstanding amount,
according to SLR Investment's Form 10-Q for the fiscal quarter
ended Aug. 4, 2026, filed with the U.S. Securities and Exchange
Commission.
SLR Investment is a participant in a loan extended to RQM+ Corp.
SLR Investment Corp. is a business development company that
provides financing solutions to middle-market companies.
The Fund is led by Michael S. Gross as Co-Chief Executive Officer.
The Fund can be reached at:
Michael S. Gross
SLR Investment Corp.
500 Park Avenue
New York, NY 10022
Telephone: (212) 993-1670
About RQM+ Corp.
RQM+ Corp. provides medical devices and consulting services. The
Company offers consulting, clinical trial, lab, and reimbursement
services, as well as technology, digital therapeutics, and
diagnostics solutions. RQM+ serves clients worldwide.
SANDY HOOK: Unsecured Creditors Will Get 100% of Claims in Plan
---------------------------------------------------------------
Sandy Hook Investments, LLC filed with the U.S. Bankruptcy Court
for the Southern District of Florida a Plan of Reorganization under
Subchapter V dated August 3, 2026.
The Debtor is a Florida limited liability company formed in 2017.
The company owns and operates residential rental properties and has
no employees. Its principal place of business is in Fort
Lauderdale, Florida.
The debtor owns four residential rental properties. Each property
is subject to a first-position mortgage or deed to secure debt
originated in August 2021, now held by a Velocity Commercial
Capital loan trust and serviced by Onity Mortgage Corporation.
After confirmation in a prior bankruptcy case, the debtor's manager
became seriously ill and delegated responsibility for rent
collection, property maintenance, and payment of obligations to
family members.
According to the plan, those individuals failed to:
* Collect rental income.
* Maintain the properties.
* Make mortgage payments.
As a result:
* The debtor became significantly delinquent on all four mortgage
loans.
* The properties became vacant or under-occupied.
* Gross rental income declined from $215,746 in calendar year 2025
to $13,586 between January 1, 2026 and the bankruptcy filing.
Foreclosure actions followed:
* A foreclosure judgment was entered against the Tamarac property,
with a foreclosure sale scheduled for May 8, 2026.
* The Fairburn, Georgia property was advertised for nonjudicial
foreclosure on May 5, 2026.
Other Claims
The plan provides for payment in full, in cash on the effective
date, of:
* The secured claim of Vanguard Village in the Mainlands Community
Two Homeowners Association, Inc.
* The secured claim of St. Joseph's Neighborhood, Inc.
* All allowed general unsecured claims, together with any
applicable interest.
Because these claims are paid in full without altering the holders'
legal, equitable, or contractual rights, only Classes 2 through 5
are impaired and entitled to vote.
Class 8 consists of Allowed General Unsecured Claims. The only
filed general unsecured claim is:
* An Internal Revenue Service claim for $3,500, consisting
entirely of penalties.
* The debtor estimates total Class 8 claims at $3,500.
Each allowed Class 8 claim will receive:
* 100% payment in cash.
* Post-petition interest from the petition date through payment at
the applicable federal judgment rate.
If total Class 8 claims exceed the estimate, the debtor will still
pay them in full using additional plan funding.
A full-text copy of the Plan of Reorganization dated August 3, 2026
is available at https://urlcurt.com/u?l=gHARM0 from
PacerMonitor.com at no charge.
Counsel to the Debtor:
Adam I. Skolnik, Esq.
Law Office of Adam I. Skolnik, PA
1761 West Hillsboro Boulevard, Suite 201
Deerfield Beach, FL 33442
Telephone: (561) 265-1120
Facsimile: (561) 265-1828
Email: askolnik@skolniklawpa.com
About Sandy Hook Investments
Sandy Hook Investments, LLC operates as a real estate investment
and property holding company in Florida.
Sandy Hook Investments sought relief under Subchapter V of Chapter
11 of the U.S. Bankruptcy Code (Bankr. S.D. Fla. Case No. 26-15777)
on May 4, 2026. In its petition, the Debtor disclosed up to $10
million in assets and up to $1 million in liabilities.
Judge Scott M. Grossman oversees the case.
Adam I. Skolnik, Esq., represents the Debtor as counsel.
SANGAMO THERAPEUTICS: Court Sets Sept. 22, 2026 General Bar Date
----------------------------------------------------------------
On June 23, 2026, Sangamo Therapeutics Inc. (the "Debtor"), filed a
voluntary case under chapter 11 of title 11 of the United States
Code in the United States Bankruptcy Court for the District of
Delaware.
On July 30, 2026, the Court entered an order (the "Bar Date Order")
establishing September 22, 2026 at 5:00 p.m. (Eastern Time) (the
"General Bar Date") as the last date and time for each person or
entity to file proofs of claim in the Chapter 11 Case (each a
"Proof of Claim"); provided that, solely with respect to a
governmental unit, the last date and time for such governmental
unit to file a Proof of Claim in the Chapter 11 Case is December
21, 2026 at 5:00 p.m. (Eastern Time) (the "Governmental Bar Date,"
and together with the General Bar Date, the "Bar Dates").
Any person or entity that has or seeks to assert a claim against
the Debtor which arose, or is deemed to have arisen, prior to the
Petition Date, MUST FILE A PROOF OF CLAIM ON OR BEFORE THE
APPLICABLE BAR DATE in order to be treated as a creditor for
purposes of voting and distribution. Acts or omissions of the
Debtor that occurred or arose before the Petition Date may give
rise to claims against the Debtor that must be filed by the
applicable Bar Date, notwithstanding that such Claims may not have
matured, are contingent or have not become fixed or liquidated
prior to or as of the Petition Date.
The Schedules, the Proof of Claim Form, and the Bar Date Order are
available free of charge on Verita's website at
https://www.veritaglobal.net/sangamotherapeutics. If you have
questions concerning the filing or processing of Claims, you may
contact the Debtor's claims agent, Verita, by e-mail at
SangamoInfo@veritaglobal.com or directly by telephone at (888)
249-2797 (U.S./Canada) or +1 (310) 751-2608 (International). If you
require additional information regarding the filing of a Proof of
Claim, you may also contact counsel for the Debtor in writing at
the addresses below:
Daniel J. DeFranceschi, Esq.
Amanda R. Steele, Esq.
Brendan J. Schlauch, Esq.
RICHARDS, LAYTON & FINGER, P.A.
One Rodney Square
920 N. King Street
Wilmington, Delaware 19801
Telephone: (302) 651-7700
Facsimile: (302) 651-7701
Email: defranceschi@rlf.com
steele@rlf.com
schlauch@rlf.com
- and -
Cullen D. Speckhart, Esq.
Lauren A. Reichardt, Esq.
Miriam Peguero Medrano, Esq.
COOLEY LLP
55 Hudson Yards
New York, NY 10001-2157
Telephone: (212) 479-6000
Facsimile: (212) 479-6275
Email: cspeckhart@cooley.com
lreichardt@cooley.com
mpegueromedrano@cooley.com
- and -
Robert L. Eisenbach III, Esq.
COOLEY LLP
3 Embarcadero Center, 20th Floor
San Francisco, CA 94111-4004
Telephone: (415) 693-2000
Email: reisenbach@cooley.com
About Sangamo Therapeutics
Sangamo Therapeutics Inc. is a biotechnology firm specializing in
genome engineering and gene therapy research. It is best known for
its zinc finger nuclease platform, which is designed to modify
genes to treat inherited and rare diseases.
Sangamo Therapeutics Inc. sought relief under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. D. Del. Case No. 26-10989) on June 23,
2026. In its petition, the Debtor listed assets and liabilities
between $100 million and $500 million.
Bankruptcy Judge Craig T. Goldblatt handles the case.
The Debtor is represented by Cooley LLP as lead bankruptcy counsel
and Richards, Layton & Finger, PA as Delaware bankruptcy counsel.
MERU, LLC serves as the Debtor's financial advisor and Raymond
James & Associates, Inc. is the investment banker. Kurtzman Carson
Consultants LLC d/b/a Verita Global is the noticing and claims
agent.
Orrick, Herrington & Sutcliffe LLP and Morris James LLP are
representing the Ad Hoc Group of Equity Holders.
SCOGGINS INDUSTRIAL: Case Summary & Seven Unsecured Creditors
-------------------------------------------------------------
Debtor: Scoggins Industrial, Inc.
d/b/a Langley Industrial Machining & Fabrication
4842 South Hwy 301
Sharpsburg, NC 27878
Business Description: Langley Industrial Machining is a Sharpsburg,
North Carolina-based machine and fabrication shop established in
1997. The company provides CNC and manual machining, welding and
metal fabrication, laser processing, finishing, design assistance,
and industrial automation services. It supports prototype and
production requirements for industries including automotive,
energy, food and beverage, pharmaceuticals, and pulp and paper.
Chapter 11 Petition Date: August 4, 2026
Court: United States Bankruptcy Court
Eastern District of North Carolina
Case No.: 26-03537
Judge: Hon. David M Warren
Debtor's Counsel: George Mason Oliver, Esq.
THE LAW OFFICES OF GEORGE OLIVER, PLLC
P.O. Box 1548
New Bern, NC 28563
Tel: 252-633-1930
Fax: 252-633-1950
Total Assets: $3,032,408
Total Liabilities: $1,461,549
The petition was signed by Gregory Scoggins as president.
A full-text copy of the petition, which includes a list of the
Debtor's seven unsecured creditors, is available for free on
PacerMonitor at:
https://www.pacermonitor.com/view/IKPH5LI/Scoggins_Industrial_Inc__ncebke-26-03537__0001.0.pdf?mcid=tGE4TAMA
SCOGGINS INDUSTRIAL: Court OKs Bid to Use Cash Collateral
---------------------------------------------------------
Scoggins Industrial, Inc. got the green light from the U.S.
Bankruptcy Court for the Eastern District of North Carolina,
Raleigh Division, to use cash collateral to fund its operations.
Under the court order, the Debtor is authorized to use cash
collateral based on a court-approved budget, subject to a 10%
line-item variance. This authorization remains in effect until
September 2, termination of the order for cause, or entry of
another cash collateral order, whichever occurs first.
The Debtor's cash collateral consists of funds on hand as of the
petition date and collected accounts receivable. Because the
Debtor's income is solely derived from ongoing operations,
immediate access to these funds is necessary to fund critical
operating expenses.
The Debtor listed five potential secured parties with perfected
liens under UCC financing statements filed with the North Carolina
Secretary of State: Dogwood State Bank, the U.S. Small Business
Administration, and C T Corporation System and Corporation Service
Company as representatives for unidentified secured creditors.
As adequate protection, the Debtor offers to grant creditors
post-petition replacement liens on cash collateral, with the same
priorities and amounts as existed pre-petition.
The order is available at
http://bankrupt.com/misc/ScogginsIndustrial_CCOrder17.pdf
The next hearing will be held on September 1.
About Scoggins Industrial, Inc.
Scoggins Industrial, Inc. sought protection under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. E.D. N.C. Case No. 26-03537) on August
4, 2026, with between $1 million and $10 million in both assets and
liabilities. Gregory Scoggins, president of Scoggins Industrial,
signed the petition.
Judge David M. Warren oversees the case.
George Mason Oliver, Esq., at The Law Offices of George Oliver,
PLLC, represents the Debtor as bankruptcy counsel.
SCOTT ZIMMERMAN LOGGING: Initiates Chapter 11 Bankruptcy in Pa.
---------------------------------------------------------------
On July 30, 2026, Scott Zimmerman Logging, Inc. filed for Chapter
11 protection in the Western District of Pennsylvania. According to
court filings, the Debtor reports between $500,000 and $1 million
in liabilities owed to 1 to 49 creditors. The company reports
estimated assets of $50,000 to $100,000.
About Scott Zimmerman Logging, Inc.
Scott Zimmerman Logging, Inc. is a Wilcox, Pennsylvania-based
logging company operating in the timber and forestry sector. Its
current operations are located in the Pittsburgh region, where the
company manages timber-related activities.
Scott Zimmerman Logging, Inc. sought relief under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. W.D. Pa. Case No. 26-10389) on July
30, 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 John C. Melaragno handles the case.
The Debtor is represented by Christopher M. Frye, Esq., of Steidl &
Steinberg, P.C.
SECRETARIAT ADVISORS: New Mountain Marks $383,000 1L Loan 99% Off
-----------------------------------------------------------------
New Mountain Finance Corp has marked its $383,000 loan to
Secretariat Advisors LLC to market at $2,000 or 1% of the
outstanding amount, according to New Mountain's 10-Q for the fiscal
quarter ended Aug. 3, 2026, filed with the U.S. Securities and
Exchange Commission.
New Mountain is a participant in a loan extended to Secretariat
Advisors.
New Mountain Finance Corp is a closed-end, externally managed,
non-diversified management investment company that operates as a
business development company, primarily investing in middle-market
companies in the United States.
The Fund is led by John R. Kline as President, Chief Executive
Officer (Principal Executive Officer) and Director.
The Fund can be reached at:
John R. Kline
New Mountain Finance Corporation
1633 Broadway, 48th Floor
New York, NY 10019
Telephone: (212) 720-0300
About SECRETARIAT ADVISORS LLC
Limited information about Secretariat Advisors LLC was available in
the fund's filing.
SES AMERICOM: Lord Abbett Marks $6.2MM Loan at 23% Off
------------------------------------------------------
Lord Abbett Investment Trust has marked its $6.2 million loan to
SES Americom, Inc. to market at $4.8 million or 77% of the
outstanding amount, according to Lord Abbett's Form N-CSRS for the
fiscal year ended Aug. 3, 2026, filed with the U.S. Securities and
Exchange Commission.
Lord Abbett is a participant in a loan extended to SES Americom,
Inc. The loan accrues interest at 5.30% per annum. The loan matures
on Mar. 25, 2044.
Lord Abbett Investment Trust is a registered management investment
company.
The Fund is led by Douglas B. Sieg as President and Chief Executive
Officer.
The Fund can be reached at:
Douglas B. Sieg
Lord Abbett Investment Trust
30 Hudson Street
Jersey City, NJ 07302-4804
Telephone: (888) 522-2388
About SES Americom, Inc.
SES Americom Inc. owns and operates satellites. The Company offers
broadcasting, telecom, and satellite communication services. SES
Americom serves customers worldwide.
SHIMAO GROUP: Lord Abbett Virtually Writes Off $249,000 Loan
------------------------------------------------------------
Lord Abbett Investment Trust has marked its $249,000 loan to Shimao
Group Holdings Ltd. (Hong Kong) to market at $7,472 or 3% of the
outstanding amount, according to Lord Abbett's N-CSRS for the
fiscal quarter ended Aug. 3, 2026, filed with the U.S. Securities
and Exchange Commission.
Lord Abbett is a participant in a loan extended to Shimao Group
Holdings Ltd. (Hong Kong). The loan accrues interest at 5.95% per
annum and matures on July 21, 2031.
Lord Abbett Investment Trust is a registered management investment
company.
The Fund is led by Douglas B. Sieg as President and Chief Executive
Officer.
The Fund can be reached at:
Douglas B. Sieg
Lord Abbett Investment Trust
30 Hudson Street
Jersey City, NJ 07302-4804
Telephone: (888) 522-2388
About Shimao Group Holdings Ltd. (Hong Kong)
Shimao Group Holdings Ltd., formerly Shimao Property Holdings Ltd.,
is a diversified real estate development company that specializes
in property development, property investment, and hotel operations
in the People's Republic of China.
SIFI NETWORKS: Court Sets Aug. 28, 2026 General Bar Date
--------------------------------------------------------
On June 5, 2026, SiFi Networks America, LLC, the debtor and debtor
in possession, filed a voluntary petition for relief under chapter
11 of the United States Bankruptcy Code (the "Bankruptcy Code")
with the United States Bankruptcy Court for the District of
Delaware (the "Bankruptcy Court").
On July 24, 2026, the Bankruptcy Court entered an order (the "Bar
Date Order") establishing certain deadlines for filing proofs of
claim ("Proofs of Claim") against the Debtor (the "Bar Dates"),
including a General Bar Date, Governmental Bar Date, Amended
Schedules Bar Date, and Rejection Bar Date (each as defined in the
Bar Date Order).
The Bar Date Order establishes the following Bar Dates for filing
proofs of claim in this case:
General Bar Date. Except as otherwise provided herein, each person
or entity (including, without limitation, each individual,
partnership, joint venture, corporation, limited liability company,
estate, or trust) holding or asserting a claim against the Debtor
that arose (or is deemed to have arisen) on or prior to the
Petition Date (including any claims arising under section 503(b)(9)
of the Bankruptcy Code for goods received by the Debtor in the
ordinary course of business within 20 days of the Petition Date)
must file a Proof of Claim Form, so that it is actually received by
Stretto on or before August 28, 2026 at 11:59 p.m. (Eastern Time)
(the "General Bar Date").
Governmental Bar Date. Each governmental unit holding or asserting
a claim against the Debtor that arose (or is deemed to have arisen)
on or prior to the Petition Date must file a Proof of Claim Form so
that it is actually received by Stretto on or before December 2,
2026 at 11:59 p.m. (Eastern Time).
Amended Schedules Bar Date. If, on or after the date the Debtor
serves this notice, the Debtor amends its Schedules to change the
amount, nature, classification or characterization of a claim, or
to schedule a new claim, the affected claimant may dispute the
amount, nature, classification or characterization of the scheduled
claim by filing a Proof of Claim Form with respect to the scheduled
claim, so that the Proof of Claim Form is actually received by
Stretto on or before the later of (i) the General Bar Date or (ii)
thirty-five (35) days from the date notice is served alerting the
affected creditor of the applicable amendment to the Schedules.
Rejection Bar Date. Each person or entity (including, without
limitation, each individual, partnership, joint venture,
corporation, limited liability company, estate, and trust) holding
or asserting a claim for any rejection damages arising from the
rejection of any unexpired lease or executory contract of the
Debtor (an "Agreement") during the Chapter 11 Case must file a
Proof of Claim Form so that it is actually received by Stretto on
or before the later of (i) 30 days after service of the order
approving the rejection of such Agreement, (ii) any date set by
another order of the Bankruptcy Court, or (iii) the General Bar
Date or the Governmental Bar Date, whichever is applicable.
All Proof of Claim Forms must be filed with original signatures, be
written in English, and be denominated in lawful currency of the
United States.
Persons or entities filing Proof of Claim Forms must deliver such
forms to Stretto at one of the following addresses in the manner
indicated below:
If by First-Class Mail, Hand Delivery or Overnight Mail:
SiFi Networks America, LLC Claims Processing
c/o Stretto, Inc.
410 Exchange, Suite 100
Irvine, CA 92602
Alternatively, claimants may submit a Proof of Claim electronically
by completing the Proof of
Claim Form that can be accessed at Stretto's website:
https://cases.stretto.com/SiFiNetworks.
Proof of Claim Forms will be deemed timely and properly filed only
if such forms are actually received by Stretto on or before the
applicable Bar Date. Do not file your Proof of Claim Form
with the Clerk.
Proof of Claim Forms shall not be submitted by facsimile, telecopy,
e-mail or other electronic means (except for the Electronic Proof
of Claim), and Proof of Claim Forms submitted by such means shall
not be deemed timely filed. The postmarked date of any Proof of
Claim is not acceptable.
Copies of the Bar Date Order and other information regarding the
Debtor's case, including the Schedules and other filings, are
available for inspection free of charge on Stretto's website at
https://cases.stretto.com/SiFiNetworks. If you require additional
information regarding the filing of a claim, you may contact
Stretto at (855) 611-3927 (toll free from the U.S. or Canada) or
(925) 264-0475 (international) or by submitting an email inquiry
to: TeamSiFi@stretto.com.
About SiFi Networks
SiFi Networks America LLC is a Wilmington, Delaware-based
telecommunications infrastructure project management and deployment
services provider. The company supports fiber-to-the-premises
network projects through deployment planning, permitting
coordination, vendor and subcontractor management, construction
management, program management, delivery coordination, stakeholder
reporting, and compliance support.
SiFi Networks sought relief under Chapter 11 of the U.S. Bankruptcy
Code (Bankr. D. Del. Lead Case No. 26-10912) on June 5, 2026. In
the petition signed by Jacen Dinoff, chief restructuring officer,
the Debtor reported estimated total assets of $1 million to $10
million and estimated liabilities of $10 million to $50 million.
The Hon. Brendan Linehan Shannon presides over the Debtor's case.
Cole Schotz PC represents the Debtor as its bankruptcy counsel. KCP
Advisor Group LLC serves as the Debtor's restructuring advisor,
Sherwood Partners Inc. acts as the Debtor's sales agent, and
Stretto Inc. serves as the Debtor's claims and noticing agent.
SIGNAL PARENT: OFS Capital Marks $1.5MM 1L Debt at 28% Off
----------------------------------------------------------
OFS Capital Corp has marked its $1.5 million first lien debt
position in Signal Parent, Inc. to market at $1.1 million or 72% of
the outstanding amount, according to OFS Capital's Form 10-Q for
the fiscal quarter ended July 31, 2026, filed with the U.S.
Securities and Exchange Commission.
OFS Capital is a participant in a loan extended to Signal Parent,
Inc. The first lien debt accrues interest at 7.44% per annum and
matures on April 3, 2028.
OFS Capital Corp is a business development company that provides
debt and equity financing solutions to middle-market companies in
the United States.
The Fund is led by Bilal Rashid as Chief Executive Officer.
The Fund can be reached at:
Bilal Rashid
OFS Capital Corp
222 W. Adams Street, Suite 1850
Chicago, IL 60606
Telephone: (847) 734-2000
About SIGNAL PARENT, INC.
Signal Parent, Inc. is the corporate parent company doing business
as Interior Logic Group, a major U.S. provider of tech-enabled
interior design, finish solutions, and installation management for
single-family and multi-family homebuilders.
SIGNAL PARENT: OFS Capital Marks $1.5MM 1L Debt at 60% Off
----------------------------------------------------------
OFS Capital Corp has marked its $1.5 million first lien debt
position in Signal Parent, Inc. to market at $607,000 or 40% of the
outstanding amount, according to OFS Capital's Form 10-Q for the
fiscal quarter ended July 31, 2026, filed with the U.S. Securities
and Exchange Commission.
OFS Capital is a participant in a loan extended to Signal Parent,
Inc. The first lien debt accrues interest at 7.26% per annum. The
first lien debt matures on April 3, 2028.
OFS Capital Corp. is a business development company that provides
debt and equity financing solutions to middle-market companies in
the United States.
The Fund is led by Bilal Rashid as Chief Executive Officer.
The Fund can be reached at:
Bilal Rashid
OFS Capital Corp
222 W. Adams Street, Suite 1850
Chicago, IL 60606
Telephone: (847) 734-2000
About Signal Parent, Inc.
Signal Parent, Inc. is the corporate parent company doing business
as Interior Logic Group, a major U.S. provider of interior design,
supply chain, and installation solutions for homebuilders.
SIMPLER POSTAGE: Secured Party Sets August 14, 2026 Public Auction
------------------------------------------------------------------
On August 14, 2026, starting at 11:00 a.m. Eastern Time, Auction
Advisors, (the "Auctioneer"), on behalf of Silverview Credit
Partners LP, a Delaware limited partnership (the "Secured Party"),
will offer for sale at a public auction under the Uniform
Commercial Code, 2,456,673 common shares (the "Collateral") issued
by Simpler Postage, Inc., aka EasyPost (the "Company"). The debtor
represented and warranted that Collateral represents 7.14% of the
issued and outstanding shares of the Company.
The Secured Party's understanding (made without any representation
or warranty by Secured Party as to the accuracy or completeness of
the following maters) is that the Company (i) does business as
EasyPost; (ii) operates in the logistics technology and shipping
software industry; (iii) provides a multi-carrier shipping API
(Application Programming Interface) that helps e-commerce brands
marketplaces, and businesses manage logistics, including purchasing
labels, tracking packages, and verifying addresses; and (iv)
recorded 2025 revenues of over $100 million.
Jarrett Streebin and Jarrett Streebin 2019 Trust (collectively, the
"Pledgor") is the current owner of the Collateral. The auction sale
will be held to enforce the rights of Secured Party under the
certain Pledge Agreement, dated July 14, 2023, between Secured
Party and Pledgor and related UCC Financing Statements pursuant to
which Pledgor granted Secured Party a security interest in the
Collateral. Secured Party is and shall be a qualified bidder and
shall be allowed to credit bid amounts due and owing to it by
Pledgor in connection with any bids it may make with respect to the
Collateral. The sale will be conducted virtually via online video
conference and in person at the offices of Auctioneer, 1350 Avenue
of the Americas, 2FL, New York NY 10019. Instructions on how to
become a "qualified bidder" and attend the auction via online video
conference are set forth in the Terms & Conditions of Auction,
which are available at www.AuctionAdvisors.com or by contacting
Joshua Olshin: Jolshin@AuctionAdvisors.com.
Secured Party is and shall be a qualified bidder and shall be
allowed to credit bid amounts due and owing to it by Pledgor in
connection with any bids it may make with respect to the
Collateral. Qualified bidders (other than the Secured Party) shall
be required to post a $100,000.00 good faith deposit prior to 11:00
a.m. Eastern Time on August 12, 2026, which deposit will be
required to be increased to ten percent (10%) of the successful bid
by the successful bidder on or prior to 11:00 a.m. Eastern Time on
August 17, 2026, Secured Party shall not be required either to post
a good faith deposit or to increase its deposit as aforesaid.
The sale will be FINAL and on an "AS-IS, WHERE IS, WITH ALL FAULTS"
basis and will be made WITHOUT REPRESENTATION OR WARRANTY
WHATSOEVER. The ownership interests owned by Pledgor in the Company
are unregistered securities under the Securities Act of 1933, as
amended, and as such are subject to certain transfer restrictions.
The Collateral owned by Pledgor in the Company will be sold as a
single block.
Full auction documentation as well as certain additional but
limited diligence information is available via a secure data room
to prospective bidders who execute a non-disclosure agreement. Such
non-disclosure agreement, and other information and due diligence
materials may be obtained by visiting
http://www.AuctionAdvisors.com/
SIRIUS XM: Moody's Affirms 'Ba3' CFR, Outlook Remains Stable
------------------------------------------------------------
Moody's Ratings affirmed Sirius XM Radio LLC's (Sirius XM) Ba3
corporate family rating, Ba3-PD probability of default rating, and
Ba3 rating on the existing senior unsecured notes. The speculative
grade liquidity (SGL) rating remains unchanged at SGL-1. The
outlook remains stable.
The affirmation reflects Moody's expectations that Sirius XM's
operating performance will improve slightly in 2026 and 2027 and
that leverage levels will decrease gradually toward 4x, including
Moody's standard adjustments. Free cash flow (FCF) will remain
strong ($1.2 billion as of LTM Q2 2026) and benefit from reductions
in satellite-related capital expenditures through 2028 as the
replacement of its existing satellite fleet is completed.
RATINGS RATIONALE
Sirius XM's Ba3 CFR reflects moderately high leverage (4.3x LTM Q2
2026, including Moody's adjustments), adjusted EBITDA margins of
about 26%, and strong free cash flow. The rating also reflects the
company's substantial self-pay in-vehicle satellite radio
subscriber base, unique content mix, curated channels, sports,
music streaming and podcasting assets, which together make Sirius
XM one of the leading digital audio providers in North America with
significant scale.
Sirius XM's mature growth profile and strong competition from a
wide variety of music streaming services will continue to weigh on
operating performance and limit growth. The company will pursue
changes and enhancements to its service offering, although
improving subscriber trends is likely to remain challenging. The
audio advertising agreement with YouTube will support advertising
revenue growth, although it will not be a meaningful contributor
until the second half of 2027.
Sirius XM's SGL-1 rating reflects very good liquidity, supported by
its $2 billion senior secured revolver maturing in August 2030
($100 million drawn) and cash of $174 million as of Q2 2026. The
company continues to generate solid FCF ($1.2 billion, or about 12%
of adjusted debt, for the LTM period ended Q2 2026). Moody's
expects FCF, defined as cash flow from operations less capital
expenditures and dividends, will continue to benefit as
satellite-related capital spending declines each year through 2028.
Moody's expects a significant portion of FCF will be used for share
repurchases over the next several years as the company has achieved
its target net leverage ratio of the low to mid 3x, as calculated
by the company. Sirius XM's revolver includes a 5x total leverage
covenant, as defined in the bank credit agreement, and Moody's
expects the company to remain well within compliance.
The stable outlook reflects Moody's expectations that Sirius XM's
leverage will decline modestly toward the 4x range in 2027 as the
company uses a portion of FCF for debt repayment. Moody's expects
operating performance to remain constrained by a highly competitive
environment from several leading music streaming services,
resulting in flat to low single digit revenue and EBITDA through
2027. Sirius XM will continue to implement initiatives to improve
growth, aided by higher advertising revenue, and lower costs.
FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS
Moody's could upgrade Sirius XM's ratings if the company
demonstrates organic revenue growth in the low to mid single digits
with at least a stable subscriber base. Sirius XM would also need
to sustain leverage in the 3x range, as calculated by us, and
maintain a FCF to debt ratio above 10%. An upgrade would also
require a strong liquidity position and conservative financial
policy, with dividends and stock buybacks funded entirely from
internally generated cash flow.
Moody's could downgrade Sirius XM's ratings if the company sustains
leverage above 4.25x, as calculated by us, or if FCF generation
deteriorates because of customer migration to competing media
services or problems with satellite operations. A weakened
liquidity position in addition to organic revenue or subscriber
declines could also create negative rating pressure.
Headquartered in New York, New York, Sirius XM Radio LLC is a
wholly owned operating subsidiary of Sirius XM Holdings Inc., which
provides satellite radio services in the US and Canada through a
fleet of six satellites. The company had about 32.9 million
subscribers as of Q2 2026, excluding Sirius XM Canada subscribers,
and creates and broadcasts commercial-free music, live events,
comedy, news, exclusive talk and entertainment, podcasts, and
sports and talk programming. Its wholly owned Pandora Media, LLC
subsidiary operates an ad-supported and subscription music
discovery platform. Sirius XM holds a 70% equity interest and 33%
voting interest in Sirius XM Canada, which had roughly 2.5 million
subscribers. In September 2024, Sirius XM completed a split-off
transaction with former parent Liberty Media Corporation that
enabled Liberty Media to exit its ownership position in the
company. Revenue totaled roughly $8.6 billion for the LTM period
ended Q2 2026.
The principal methodology used in these ratings was Media published
in September 2025.
SKY INN: Case Summary & Three Unsecured Creditors
-------------------------------------------------
Debtor: Sky Inn Operation, Inc
1611 Airport Commerce Dr.
Austin, TX 78741
Business Description: Sky Inn Operation, Inc. is an Austin,
Texas-based hotel-property company that owns the Staybridge Suites
Austin Airport at 1611 Airport Commerce Drive and leases the
property to tenant Austin Airport Suites, LLC.
Chapter 11 Petition Date: August 3, 2026
Court: United States Bankruptcy Court
Western District of Texas
Case No.: 26-11529
Judge: Hon. Christopher G Bradley
Debtor's Counsel: C. Daniel Roberts, Esq.
C. DANIEL ROBERTS, P.C.
PO Box 300549
Austin, TX 78703
Tel: (512) 470-0897
Email: droberts@cdrlaw.net
Total Assets: $27,371,195
Total Liabilities: $358,453
The petition was signed by Isabel Araujo-Rodriguez as accountign
manager.
A full-text copy of the petition, which includes a list of the
Debtor's three unsecured creditors, is available for free on
PacerMonitor at:
https://www.pacermonitor.com/view/7CKHG6A/Sky_Inn_Operation_Inc__txwbke-26-11529__0001.0.pdf?mcid=tGE4TAMA
SLEEP NUMBER: Advised by Davis Polk on Sec. 363 Going Concern Sale
------------------------------------------------------------------
Davis Polk advised Sleep Number Corporation and its affiliates on
the sale of substantially all of their assets to SNBR, Inc., an
affiliate of Sleep Country Canada, Inc. Immediately prior to
commencing the chapter 11 cases on June 12, 2026, Sleep Number
entered into an asset purchase agreement with Sleep Country Canada,
which agreed to serve as the stalking horse bidder in a
court-supervised sale process pursuant to section 363 of the
Bankruptcy Code.
On July 13, 2026, following a competitive auction involving
multiple bidders, Sleep Country Canada was selected as the
successful bidder. The consideration to be received by Sleep Number
under the final transaction increased by approximately $287 million
from what was contemplated under the initial agreement, which
includes an increase in the cash purchase price from $415 million
to $529.5 million. The final transaction provides for a total
adjusted consideration of $701.8 million.
On July 20, 2026, Judge Kyu Y. (Mike) Paek of the U.S. Bankruptcy
Court for the Southern District of New York, who is presiding over
Sleep Number's chapter 11 cases, approved the sale in its entirety,
and the sale closed on July 31, 2026. The sale was a resounding
success, continuing the business as a going concern, preserving
thousands of jobs and operations at hundreds of stores across the
country while maximizing recoveries for Sleep Number's creditors.
Sleep Number, founded in 1987 and headquartered in Minneapolis,
Minnesota, has been a leader in personalized sleep wellness,
developing and selling sleep wellness solutions, including smart
beds and mattresses equipped with digital sleep tracking
applications.
Headquartered in Toronto, Ontario, Sleep Country Canada is
recognized as the largest specialty mattress retailer in Canada.
The Davis Polk restructuring team included partners Brian M.
Resnick and Angela M. Libby, counsel Stephen D. Piraino and Richard
J. Steinberg and associates Sihui (Sophy) Ma, Motty (Mordechai)
Rivkin, Jacob Goldberger, Eva (Luying) Wang, Katharine O'Neill,
Tashanique (Tasha) Brown and Erin Azie. The M&A team included
partners Brian Wolfe and Lee Parnes and associate Leon Ren. The
finance team included partner Robert F. Smith and counsel Louis
Quagliato. Partner Elliot Moskowitz provided litigation advice.
Partner Veronica M. Wissel and counsel Justin Alexander Kasprisin
provided executive compensation advice. Partner Frank Azzopardi and
associate Lachlan J. Forrester provided intellectual property
advice. Partner Corey M. Goodman and counsel Leslie J. Altus
provided tax advice. Partner Arthur J. Burke and counsel Meytal
McCoy and Nathan Kiratzis provided regulatory and antitrust advice.
Members of the Davis Polk team are based in the New York and
Washington DC offices.
Davis Polk refers to Davis Polk & Wardwell LLP, a New York limited
liability partnership, and its associated entities.
About Sleep Number Corp.
Sleep Number Corporation, formerly Select Comfort Corporation, is a
Minneapolis, Minnesota-based company founded in 1987. The company
offers mattresses and bases, including smart mattresses with
adjustable firmness, digital sensing, automatic comfort
adjustments, and temperature-control features. Sleep Number uses a
direct-to-consumer distribution model through Sleep Number stores
and online retail touchpoints, and provides home delivery and
professional set-up services. The company operates 572 stores in
50 U.S. states and employs approximately 2,920 employees.
Sleep Number Corporation sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D.N.Y. Case No. 26-11399) on June 12,
2026. In its petition, the Debtor reports total assets of $642.3
million and total debt of $1.28 billion as of April 30, 2026.
Honorable Bankruptcy Judge Kyu Young Paek handles the case.
Davis Polk & Wardwell LLP is serving as Sleep Number's legal
advisor in the restructuring. The company also retained Guggenheim
Securities, LLC as investment banker, A&G Real Estate Partners as
real estate advisors, and Kroll Restructuring Administration LLC as
claims, noticing, solicitation, and administrative agent.
SMARTHANDS COMPANY: Commences Subchapter V Bankruptcy in Georgia
----------------------------------------------------------------
On July 30, 2026, The Smarthands Company, LLC filed for Chapter 11
protection in the Northern District of Georgia. According to court
filings, the Debtor reports between $1 million and $10 million in
liabilities owed to 1 to 49 creditors. The company reports
estimated assets of $0 to $50,000.
About The Smarthands Company LLC
The Smarthands Company, LLC provides electrical contracting,
cabling, building automation, and training services for commercial
clients such as Kroger, Verizon, and Amazon Web Services.
The Debtor sought protection under Subchapter V of Chapter 11 of
the U.S. Bankruptcy Code (Bankr. N.D. Ga. Case No. 26-41288-pwb) on
July 30, 2026. In the petition signed by James Conerton, president,
the Debtor disclosed up to $50,000 in assets and up to $10 million
in liabilities.
Judge Paul W. Bonapfel oversees the case.
Will Geer, Esq., at Rountree, Leitman, Klein & Geer, LLC,
represents the Debtor as legal counsel.
SOUTHERN CHIROPRACTIC: Gets Interim OK to Use Cash Collateral
-------------------------------------------------------------
Southern Chiropractic, PLLC on Aug. 12 received interim approval
from the U.S. Bankruptcy Court for the Eastern District of North
Carolina, Raleigh Division, to use cash collateral.
Under the interim order, the Debtor is authorized to use cash
collateral to fund its operations based on a court-approved budget.
The Debtor may make expenditures of up to 10% more than the
budgeted amount.
The Debtor's authority to use cash collateral will expire or
terminate upon cessation of its operations or non-compliance or
default of the Debtor with the terms of the order, whichever occurs
first.
As of the petition date, the Debtor held approximately $1,119 in
bank account balances, all of which was transferred into a newly
opened debtor-in-possession checking account, alongside
unencumbered personal property (including receivables, unencumbered
inventory, equipment, furnishings, raw materials, and finished
goods) valued at approximately $63,460.
The Debtor's ongoing revenue collections and cash collateral are
subject to potential security interests held by five creditors
based on UCC-1 financing statements filed with the North Carolina
Secretary of State: Everest Business Funding, Health Care Financing
of America, LLC, Woodmere Capital, LLC, Amerifi Cap, and MCA Grid,
LLC.
Secured creditors will receive adequate protection through a
post-petition lien on the Debtor's cash and inventory to the extent
that their pre-petition liens on the same type of collateral were
valid, perfected, enforceable, and non-avoidable as of the petition
date. In addition, Everest will receive monthly payments of
$970.03, beginning Sept. 1.
The next hearing will be held on Sept. 15.
The order is available at
http://bankrupt.com/misc/SouthernChiropractic_CCOrder23.pdf
Southern Chiropractic voluntarily filed for Chapter 11 relief
seeking to reorganize operations, reduce cash flow pressures, and
maintain its business as a going concern through a consensual
reorganization plan.
About Southern Chiropractic PLLC
Southern Chiropractic, PLLC is a North Carolina limited liability
company established in 2020 that operates a chiropractic treatment
facility in Clayton, North Carolina.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. E.D. N.C. Case No. 26-03540) on August 4,
2026. In the petition signed by Jennifer Al Ghuraibawi, member, the
Debtor disclosed up to $100,000 in assets and up to $500,000 in
liabilities.
Judge Pamela W. McAfee oversees the case.
Danny Bradford, Esq., at Paul D. Bradford, PLLC, represents the
Debtor as legal counsel.
SPECTRUM OF HOPE: Capital Southwest Marks $11.1MM 1L Loan 45% Off
-----------------------------------------------------------------
Capital Southwest Corp. has marked its $11.1 million First Lien -
Tranche A Term Loan to Spectrum of Hope LLC to market at $6.1
million or 55% of the outstanding amount, according to Capital
Southwest's 10-Q for the fiscal quarter ended Aug. 3, 2026, filed
with the U.S. Securities and Exchange Commission.
Capital Southwest is a participant in a loan extended to Spectrum
of Hope LLC. The First Lien - Tranche A Term Loan accrues interest
at 6.00% per annum. The First Lien - Tranche A Term Loan matures on
Dec. 31, 2029.
Capital Southwest Corp. is a business development company that
provides financing solutions to middle-market businesses.
The Fund is led by Michael S. Sarner as President and Chief
Executive Officer.
The Fund can be reached at:
Michael S. Sarner
Capital Southwest Corp.
8333 Douglas Avenue, Suite 1100
Dallas, TX 75225
Telephone: (214) 238-5700
About Spectrum of Hope LLC
Spectrum of Hope LLC is a specialized healthcare provider founded
in 2004 and based in the Houston, Texas area.
STAOC CORP: Case Summary & 11 Unsecured Creditors
-------------------------------------------------
Debtor: STAOC CORP
110 Cypress Station Dr
Houston, TX 77090-1637
Business Description: STAOC is a Houston, Texas-based company
providing property maintenance, turn, and renovation services. Its
work includes building-system repairs, interior and exterior
improvements, cleaning, landscaping, inspections, remediation, and
related property services. The company serves single-family rental,
multifamily, and commercial properties across multiple U.S.
markets, including vacant and occupied homes.
Chapter 11 Petition Date: August 4, 2026
Court: United States Bankruptcy Court
Southern District of Texas
Case No.: 26-35787
Judge: Hon. Jeffrey P Norman
Debtor's Counsel: Robert C Lane, Esq.
THE LANE LAW FIRM
6200 Savoy Dr Ste 1150
Houston TX 77036-3369
Tel: (713) 595-8200
E-mail: notifications@lanelaw.com
Total Assets: $645,003
Total Liabilities: $1,642,163
Gene Coats signed the petition as CEO.
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/HV6OGEI/STAOC_CORP__txsbke-26-35787__0001.0.pdf?mcid=tGE4TAMA
STAOC CORP: Gets Interim OK to Use Cash Collateral Until Sept. 3
----------------------------------------------------------------
STAOC Corp. received interim approval from the U.S. Bankruptcy
Court for the Southern District of Texas, Houston Division, to use
cash collateral.
Under the interim order, the Debtor is authorized to use cash
collateral through September 3 to fund its operations based on a
court-approved budget.
The Debtor may exceed any individual line item by up to 10%,
provided the variance is reasonable and incurred in the ordinary
course of business. No expenditures exceeding this 10% variance are
authorized.
As of the petition date, the Debtor reported total assets of
$645,003, consisting primarily of $580,000 in collectible accounts
receivable and $6,130 in cash on hand.
A UCC search with the Texas Secretary of State identified 10
potential lienholders with blanket security interests in cash and
accounts, including the U.S. Small Business Administration
($150,005 senior COVID-19 EIDL claim), Swift Funding Source
(disputed as paid off), Forward Financing ($283,875), Kalamata
Capital, NewCo Funding ($117,770), and junior lenders W Funding
Group, CapSpark LLC, and Meta Advance. The SBA claim appears fully
secured by cash collateral while the junior MCA lenders are likely
undersecured based on lien priority.
Pursuant to the interim order, creditors with perfected liens on
the cash collateral as of the petition date will receive adequate
protection through replacement liens on post-petition cash
collateral and related proceeds, with the same validity, priority,
and enforceability as their pre-petition liens.
Additional safeguards include compliance with the interim budget;
continued operation, maintenance, and preservation of property of
the estate; and maintenance of insurance on assets.
A final hearing is scheduled for September 8.
The order is available at
http://bankrupt.com/misc/STAOCCORP_CCOrder24.pdf
STAOC's core business involves single-family residential repairs
across Texas, Arizona, and other states—handling both occupied
unit maintenance and move-out turnover repairs. Although
experiencing steady operational growth, the Debtor's reliance on
net-basis customer payments led it to accumulate multiple
short-term merchant cash advance loans, the compounding financial
pressure of which ultimately forced the bankruptcy filing.
About STAOC Corp.
STAOC Corp. provides single-family residential repair services.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. S.D. Texas Case No. 26-35787) on August 4,
2026. In the petition signed by Gene Coats, chief executive
officer, the Debtor disclosed assets of between $500,001 and $1
million and liabilities of between $1 million and $10 million.
Judge Jeffrey P. Norman oversees the case.
Robert C. Lane, Esq., at The Lane Law Firm, represents the Debtor
as legal counsel.
STRONG BASE: Commences Chapter 11 Bankruptcy in Arizona
-------------------------------------------------------
On July 30, 2026, Strong Base, LLC filed for Chapter 11 protection
in the U.S. Bankruptcy Court for the District of Arizona. According
to the court filing, the Debtor reports between $1 million and $10
million in estimated assets and between $1 million and $10 million
in estimated liabilities, with one to 49 creditors.
A meeting of creditors under Section 341(a) scheduled for September
1, 2026 at 09:45 AM as a Chapter 11 Teleconference Call in number:
1-888-330-1716, Passcode: 4038524.
About Strong Base, LLC
Strong Base, LLC is a Phoenix, Arizona-based business entity. Its
specific industry and operating activities have not been publicly
identified in available corporate records. Based on the available
information, the company may function as a private holding company
or a small-scale local business.
Strong Base, LLC sought relief under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Ariz. Case No. 26-07599) on July 30,
2026. Its petition lists estimated assets of $1 million to $10
million and estimated liabilities of $1 million to $10 million.
Honorable Madeleine C. Wanslee handles the case.
The Debtor is represented by Mark J. Giunta, Esq. of Law Office of
Mark J. Giunta.
STUDENT RESOURCE: Capital Southwest Virtually Writes Off $9.6M Loan
-------------------------------------------------------------------
Capital Southwest Corp. has marked its $9.6 million first lien loan
to Student Resource Center LLC to market at $482,000 or 5% of the
outstanding amount, according to Capital Southwest's 10-Q for the
fiscal quarter ended August 3, 2026, filed with the U.S. Securities
and Exchange Commission.
Capital Southwest is a participant in a loan extended to Student
Resource Center LLC.
Capital Southwest Corp. is a business development company that
provides financing solutions to middle-market businesses.
The Fund is led by Michael S. Sarner as President and Chief
Executive Officer.
The Fund can be reached at:
Michael S. Sarner
Capital Southwest Corp.
8333 Douglas Avenue, Suite 1100
Dallas, TX 75225
Telephone: (214) 238-5700
About Student Resource Center LLC
Student Resource Services LLC provides coaching and counseling
services to colleges and university students.
SUN BUGGY: Case Summary & 20 Largest Unsecured Creditors
--------------------------------------------------------
Debtor: Sun Buggy Fun Rentals, Inc.
6929 Speedway Blvd, Ste C-106
Las Vegas, NV 89115
Business Description: Sun Buggy Fun Rentals, Inc. is a Las
Vegas-based recreational vehicle rental and adventure-tour company
that provides guided dune buggy and ATV excursions and other
off-road experiences in Nevada desert areas.
Chapter 11 Petition Date: August 4, 2026
Court: United States Bankruptcy Court
District of Nevada
Case No.: 26-14929
Judge: Hon. Natalie M Cox
Debtor's Counsel: Matthew L. Johnson, Esq.
JOHNSON & GUBLER, P.C.
Lakes Business Park
8831 West Sahara Avenue
Las Vegas, Nevada 89117-5865
Tel: (702) 471-0065
Fax: (702) 471-0075
Email: mjohnson@mjohnsonlaw.com
Estimated Assets: $100,000 to $500,000
Estimated Liabilities: $1 million to $10 million
The petition was signed by Randolph G. Jordan as president.
A full-text copy of the petition, which includes a list of the
Debtor's 20 largest unsecured creditors, is available for free on
PacerMonitor at:
https://www.pacermonitor.com/view/JOGP6RQ/SUN_BUGGY_FUN_RENTALS_INC__nvbke-26-14929__0001.0.pdf?mcid=tGE4TAMA
SYMPLR SOFTWARE: New Mountain Marks $15.1MM Loan 34% Off
--------------------------------------------------------
New Mountain Finance Corp has marked its $15,160,000 loan to Symplr
Software, Inc. to market at $9,998,000 or 66% of the outstanding
amount, according to New Mountain's 10-Q for the fiscal quarter
ended Aug. 3, 2026, filed with the U.S. Securities and Exchange
Commission.
New Mountain is a participant in a loan extended to Symplr
Software. The loan accrues interest at 8.26% per annum. The loan
matures in Dec. 2027.
New Mountain Finance Corp is a closed-end, externally managed,
non-diversified management investment company that operates as a
business development company, primarily investing in middle-market
companies in the United States.
The Fund is led by John R. Kline as President, Chief Executive
Officer (Principal Executive Officer) and Director.
The Fund can be reached at:
John R. Kline
New Mountain Finance Corporation
1633 Broadway, 48th Floor
New York, NY 10019
Telephone: (212) 720-0300
About Symplr Software, Inc.
Limited information about Symplr Software, Inc. was available in
the fund's filing.
T & T VENTURES: Lauren Goodman Named Subchapter V Trustee
---------------------------------------------------------
The Acting U.S. Trustee for Region 13 appointed Lauren Goodman as
Subchapter V trustee for T & T Ventures, LLC.
Ms. Goodman will be paid an hourly fee of $390 for her services as
Subchapter V trustee and will be reimbursed for work-related
expenses incurred.
Ms. Goodman declared that she is a disinterested person according
to Section 101(14) of the Bankruptcy Code.
The Subchapter V trustee can be reached at:
Lauren R. Goodman
McGrath North
1601 Dodge Street, Suite 3700
Omaha, NE 68102
Phone: 402-341-3070
Email: lgoodman@mcgrathnorth.com
About T & T Ventures LLC
T & T Ventures LLC sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. Neb. Case No. 26-80933) on August 3,
2026, with $50,001 to $100,000 in assets and $500,001 to $1 million
in liabilities.
Judge Brian S. Kruse presides over the case.
Donald L. Swanson, Esq., at Koley Jessen P.C. represents the Debtor
as legal counsel.
TACOMA ARTS: New CEO Reshapes Strategy to Exit Receivership
-----------------------------------------------------------
Shawna De La Rosa of Puget Sound Business Journal reports that
Tacoma Arts Live is reshaping its strategy under newly appointed
CEO Katie Stricker as the nonprofit seeks to overcome its financial
difficulties and eventually exit receivership. The organization is
using the additional time provided by court-supervised oversight to
rethink its operations and develop a business model that can better
support its mission. Its historic Armory and education programs are
at the center of that effort.
The new strategy calls for a narrower organizational focus, with
greater attention to activities that can produce sustainable
revenue and meaningful community value. Stricker is leading an
effort to align the nonprofit's resources with its most important
priorities, while reducing the operational complexity that
contributed to its financial challenges. The approach is intended
to make the organization more resilient once receivership ends, the
report relays.
According to Puget Sound Business Journal, Tacoma Arts Live
continues to view the Armory as a significant asset and plans to
build on its role as a cultural and community venue. Its education
programs likewise remain an important part of the nonprofit's
identity. The organization is seeking ways to strengthen both areas
while ensuring that programming and operations are financially
viable.
The receivership has effectively created a window for Tacoma Arts
Live to make structural changes before returning to independent
management. Stricker's leadership is centered on creating a
smaller, more focused organization capable of sustaining its
programs, managing its facilities and serving the Tacoma community
without relying on continued court oversight, according to report.
About Tacoma Arts Live
Tacoma Arts Live is a long-running nonprofit arts organization in
Tacoma, Washington, established in 1979 to promote performing arts
and cultural engagement. Operating from the Tacoma Armory, it has
played a central role in bringing national and international
performances to the region.
Facing financial strain from declining post-pandemic ticket sales,
Tacoma Arts Live is under receivership, with Shelly Crocker
overseeing operations after the board stepped down. The process
allows the nonprofit to manage debts, handle creditor claims, and
plan the sale of the Tacoma Armory while considering potential
restructuring or partial continuation of its programs.
TACOS Y TEQUILA: Gets Interim OK to Use Cash Collateral
-------------------------------------------------------
Tacos y Tequila Hanover, Inc. received interim approval from the
U.S. Bankruptcy Court for the District of New Hampshire to use cash
collateral.
Under the interim order, the Debtor is permitted to use cash
collateral in accordance with its 13-week budget, with a permitted
variance of 15%. The authorized spending is limited to expenses
necessary to prevent immediate and irreparable harm to the
bankruptcy estate while the Debtor awaits a final ruling.
The budget projects total operational cash expenditures of
$320,431.
The Internal Revenue Service holds a senior first-position federal
tax lien filed on August 17, 2023, securing an outstanding debt of
approximately $32,157.
Junior UCC-1 filings are held by the New Hampshire Department of
Revenue Administration (NH DRA), Vox Funding, LLC (via CT Corp.
System), and Spartan Business Solutions, LLC (via CSC). These
junior claims, which include merchant cash advance agreements for
future sales receipts, are undersecured or entirely unsecured
because the value of cash collateral is far less than the IRS tax
lien. Furthermore, neither the IRS nor any other lender holds a
perfected security interest in the restaurant's cash on hand or
demand deposit accounts due to the absence of deposit control
agreements under N.H. Rev. Stat. Ann. section 382-A:9-312(b)(1).
The Debtor calculates the going-concern book value of its cash
collateral at $8,000 (comprising $3,500 in food inventory, $2,500
in liquor inventory, and $2,000 in two-day credit card receivables
float). In contrast, the liquidation value drops to $2,000 in
Chapter 7 and $0 in an out-of-court shutdown, given that food
inventory is highly perishable/opened, liquor sales outside
licensed channels are restricted under state law (N.H. Rev. Stat.
Ann. section 177:6), and credit card floats would be consumed by
competing lender claims.
The IRS and other potential secured creditors will receive adequate
protection through replacement liens on the estate's post-petition
property similar to their pre-petition collateral. These
replacement liens do not apply to Chapter 5 causes of action or
their proceeds.
The order does not determine the validity, perfection, or priority
of any existing liens.
A copy of the court's order and the Debtor's budget is available at
https://shorturl.at/TCpEy from PacerMonitor.com.
A final hearing is scheduled for August 26.
About Tacos y Tequila Hanover, Inc.
Tacos y Tequila Hanover, Inc. operates a Mexican restaurant in
Hanover, New Hampshire.
The Debtor sought protection under Chapter 11 of the U.S.
Bankruptcy Code (Bankr. D. N.H. Case No. 26-10698-KB) on August 5,
2026. In the petition signed by Ramiro Bravo, president, the Debtor
disclosed up to $50,000 in assets and up to $500,000 in
liabilities.
Judge Kimberly Bacher oversees the case.
Ryan M. Borden, Esq., at Ford, McDonald & Borden, P.A., represents
the Debtor as legal counsel.
TITAN FITNESS: Golub Capital Marks $3.3MM Loan at 35% Off
---------------------------------------------------------
Golub Capital BDC, Inc. has marked its $3.3 million one stop loan
to Titan Fitness, LLC to market at $2.2 million or 65% of the
outstanding amount, according to Golub Capital's Form 10-Q for the
fiscal quarter ended June 30, 2026, filed with the U.S. Securities
and Exchange Commission.
Golub Capital is a participant in a loan extended to Titan Fitness.
The One stop accrues interest at SF + 7.25% per annum. The One stop
matures in June 2027.
Golub Capital BDC, Inc. is an externally managed, closed-end,
non-diversified management investment company that primarily
invests in debt securities of middle-market companies.
The Fund is led by David B. Golub as Chief Executive Officer.
The Fund can be reached at:
David B. Golub
Golub Capital BDC, Inc.
200 Park Avenue, 25th Floor
New York, NY 10166
Telephone: (212) 750-6060
About Titan Fitness, LLC
Titan Fitness, LLC operates fitness and health clubs. The Company
manages gym facilities and offers wellness services including
tanning, a smoothie bar, child care, personal training, and fitness
classes. Titan Fitness LLC serves individuals seeking fitness and
wellness services throughout the United States.
TITAN FITNESS: Golub Capital Marks $46.2MM Loan at 35% Off
----------------------------------------------------------
Golub Capital BDC, Inc. has marked its $46.2 million one stop loan
to Titan Fitness, LLC to market at $30.0 million or 65% of the
outstanding amount, according to Golub Capital's Form 10-Q for the
fiscal quarter ended June 30, 2026, filed with the U.S. Securities
and Exchange Commission.
Golub Capital is a participant in a loan extended to Titan Fitness.
The one stop loan accrues interest at SF + 7.25% per annum. The one
stop loan matures in June 2027.
Golub Capital BDC, Inc. is an externally managed, closed-end,
non-diversified management investment company that primarily
invests in debt securities of middle-market companies.
The Fund is led by David B. Golub as Chief Executive Officer.
The Fund can be reached at:
David B. Golub
Golub Capital BDC, Inc.
200 Park Avenue, 25th Floor
New York, NY 10166
Telephone: (212) 750-6060
About Titan Fitness, LLC
Titan Fitness, LLC operates fitness and health clubs. The Company
manages gym facilities and offers wellness services including
tanning, a smoothie bar, child care, personal training, and fitness
classes. Titan Fitness LLC serves individuals seeking fitness and
wellness services throughout the United States.
TITAN FITNESS: Golub Capital Marks $640,000 Loan at 49% Off
-----------------------------------------------------------
Golub Capital BDC, Inc. has marked its $640,000 one stop loan to
Titan Fitness, LLC to market at $326,000 or 51% of the outstanding
amount, according to Golub Capital's Form 10-Q for the fiscal
quarter ended June 30, 2026, filed with the U.S. Securities and
Exchange Commission.
Golub Capital is a participant in a loan extended to Titan Fitness.
The one stop loan accrues interest at SF + 7.25% per annum. The one
stop loan matures in June 2027.
Golub Capital BDC, Inc. is an externally managed, closed-end,
non-diversified management investment company that primarily
invests in debt securities of middle-market companies.
The Fund is led by David B. Golub as Chief Executive Officer.
The Fund can be reached at:
David B. Golub
Golub Capital BDC, Inc.
200 Park Avenue, 25th Floor
New York, NY 10166
Telephone: (212) 750-6060
About Titan Fitness, LLC
Titan Fitness, LLC operates fitness and health clubs. The Company
manages gym facilities and offers wellness services including
tanning, a smoothie bar, child care, personal training, and fitness
classes. Titan Fitness LLC serves individuals seeking fitness and
wellness services throughout the United States.
TOGETHERWORK HOLDINGS: Golub Capital Marks $255,000 Loan at 28% Off
-------------------------------------------------------------------
Golub Capital BDC, Inc. has marked its $255,000 one stop loan to
Togetherwork Holdings, LLC to market at $184,000 or 72% of the
outstanding amount, according to Golub Capital's Form 10-Q for the
fiscal quarter ended June 30, 2026, filed with the U.S. Securities
and Exchange Commission.
Golub Capital is a participant in a loan extended to Togetherwork.
The One stop loan accrues interest at SF + 5.25% per annum. The One
stop loan matures in May 2031.
Golub Capital BDC, Inc. is an externally managed, closed-end,
non-diversified management investment company that primarily
invests in debt securities of middle-market companies.
The Fund is led by David B. Golub as Chief Executive Officer.
The Fund can be reached at:
David B. Golub
Golub Capital BDC, Inc.
200 Park Avenue, 25th Floor
New York, NY 10166
Telephone: (212) 750-6060
About Togetherwork Holdings, LLC
Togetherwork Holdings, LLC provides group engagement software and
financial solutions. The company offers group management software,
financial enablement solutions, and member engagement tools.
TOLEMAR ACQUISITION: OFS Capital Marks $14.4MM 1L Debt at 27% Off
-----------------------------------------------------------------
OFS Capital Corp has marked its $14.4 million first lien debt to
Tolemar Acquisition, Inc. to market at $10.5 million or 72.7% of
the outstanding amount, according to OFS Capital's 10-Q for the
fiscal quarter ended July 31, 2026, filed with the U.S. Securities
and Exchange Commission.
OFS Capital is a participant in a loan extended to Tolemar
Acquisition, Inc. The first lien debt accrues interest at 9.82%
cash and 1.25% payment-in-kind per annum. The first lien debt
matures on October 14, 2027.
OFS Capital Corp is a business development company that provides
debt and equity financing solutions to middle-market companies in
the United States.
The Fund is led by Bilal Rashid as Chief Executive Officer.
The Fund can be reached at:
Bilal Rashid
OFS Capital Corp
222 W. Adams Street, Suite 1850
Chicago, IL 60606
Telephone: (847) 734-2000
About Tolemar Acquisition, Inc.
Tolemar, LLC, a California-based manufacturer of powersports parts
and accessories.
TOLEMAR ACQUISITION: OFS Capital Marks $14.5MM 1L Debt at 39% Off
-----------------------------------------------------------------
OFS Capital Corp has marked its $14.5 million first lien debt
position in Tolemar Acquisition, Inc. to market at $8.8 million or
61% of the outstanding amount, according to OFS Capital's 10-Q for
the fiscal quarter ended July 31, 2026, filed with the U.S.
Securities and Exchange Commission.
OFS Capital is a participant in a loan extended to Tolemar
Acquisition, Inc. The first lien debt accrues interest at 9.74%
cash / 1.25% PIK per annum and matures on October 14, 2027.
OFS Capital Corp is a business development company that provides
debt and equity financing solutions to middle-market companies in
the United States.
The Fund is led by Bilal Rashid as Chief Executive Officer.
The Fund can be reached at:
Bilal Rashid
OFS Capital Corp
222 W. Adams Street, Suite 1850
Chicago, IL 60606
Telephone: (847) 734-2000
About Tolemar Acquisition, Inc.
Tolemar Acquisition, Inc. is a corporate entity established to
facilitate the purchase and management of Tolemar LLC, a leading
manufacturer and supplier of aftermarket automotive and powersports
parts.
TOLEMAR ACQUISITION: OFS Capital Marks $978,000 1L Loan at 62% Off
------------------------------------------------------------------
OFS Capital Corp has marked its $978,000 first lien revolving debt
to Tolemar Acquisition, Inc. to market at $373,000 or 38% of the
outstanding amount, according to OFS Capital's Form 10-Q for the
fiscal quarter ended July 31, 2026, filed with the U.S. Securities
and Exchange Commission.
OFS Capital is a participant in a loan extended to Tolemar
Acquisition, Inc. The first lien revolver accrues interest at 9.74%
per annum. The facility matures on October 14, 2027.
OFS Capital Corp is a business development company that provides
debt and equity financing solutions to middle-market companies in
the United States.
The Fund is led by Bilal Rashid as Chief Executive Officer.
The Fund can be reached at:
Bilal Rashid
OFS Capital Corp
222 W. Adams Street, Suite 1850
Chicago, IL 60606
Telephone: (847) 734-2000
About Tolemar Acquisition, Inc.
Tolemar, LLC, a California-based manufacturer of powersports parts
and accessories.
TRUE AMERICAN: Seeks Cash Collateral Access
-------------------------------------------
True American Grain Inc. asks the U.S. Bankruptcy Court for the
Central District of California for authority to use cash collateral
and provide adequate protection.
The Debtor need to use cash collateral to fund daily operations,
preserve enterprise value, and work toward financial reorganization
following several years of revenue declines and operating losses.
The Debtor's encumbered assets are subject to two recorded liens.
JPMorgan Chase, N.A. holds a first-priority lien on all assets
securing a business line of credit with an estimated balance of
$88,205, while the U.S. Small Business Administration holds a
second-priority lien securing an Economic Injury Disaster Loan,
with an estimated balance of $439,279. Because total corporate
assets are estimated at $285,875 against $527,484 in combined
secured obligations, the junior SBA claim is significantly
undersecured.
To fulfill adequate protection obligations, the Debtor proposes
paying Chase monthly cash payments of $1,000 beginning the month
after order entry. Additionally, the Debtor proposes granting both
Chase and the SBA post-petition replacement liens on all newly
generated accounts receivable and inventory to the same extent,
validity, and priority as their pre-petition encumbrances.
Financial projections indicate positive monthly cash flows that
will increase cash on hand from $1,000 to $9,040 over a 90-day
period after funding operational expenses and Chase payments.
A court hearing is set for August 26.
A copy of the motion is available at https://urlcurt.com/u?l=ERDBFO
from PacerMonitor.com.
About True American Grain Inc.
True American Grain Inc. is a Laguna Niguel, California-based
manufacturer of reclaimed wood products and specialty woodworking
materials. The company produces RECwood Planks crafted from
authentic American reclaimed wood and operates a licensed
woodworking and finishing facility in Laguna Niguel.
True American Grain filed a petition under Chapter 11, Subchapter V
of the Bankruptcy Code (Bankr. C.D. Calif. Case No. 26-12278) on
July 24, 2026, with $100,001 to $500,000 in assets and $500,001 to
$1 million in liabilities.
The case is assigned to the Honorable Bankruptcy Judge Scott H.
Yun.
The Debtor is represented by Christopher J. Langley, Esq., at
Shioda Langley & Chang, LLP.
Robert Goe, Esq., a practicing attorney in Irvine, Calif., serves
as Subchapter V trustee for the Debtor.
TTNG HOLDINGS: Claims to be Paid from Continued Operations
----------------------------------------------------------
TTNG Holdings Corp. filed with the U.S. Bankruptcy Court for the
Northern District of Georgia a Disclosure Statement for Plan of
Reorganization dated August 3, 2026.
TTNG Holdings Corp. was incorporated in Georgia on April 10, 2024,
to purchase and own commercial real estate located at 750 Chastain
Corner Road, Marietta, Georgia. The company is solely owned and
managed by Timika Gaten, who also owns Glamrus Salon Suites, LLC
and Weave Loft, LLC.
The property was purchased in August 2024 using a $1,228,000 SBA
loan from Byline Bank. The loan was jointly borrowed by TTNG
Holdings Corp., Glamrus Salon Suites, LLC, Weave Loft, LLC, and
Timika Gaten. Byline Bank holds a first-priority security interest
in the property. Glamrus operates a salon business at the property,
while Weave Loft is inactive.
Before filing for bankruptcy, the Debtor experienced cash flow
shortages caused by reduced income from Glamrus, making it
difficult to repay the loan. As a result, Byline Bank declared a
default and scheduled a foreclosure sale for May 2026. TTNG
Holdings Corp. filed for Chapter 11 bankruptcy on May 4, 2026, to
stop the foreclosure and reorganize its business.
Under the proposed reorganization plan:
* The Debtor will continue operating after confirmation as the
Reorganized Debtor, administering the plan, filing required post
confirmation reports, paying trustee fees, and seeking closure of
the bankruptcy case after completing the plan.
* Class 7 consists of general unsecured claims. The Debtor did not
initially schedule any unsecured claims, but Ace Property and
Casualty Insurance Company filed a claim for $3,205.88, which the
Debtor is reviewing and may challenge.
* Holders of allowed Class 7 claims will collectively receive $100
per month for up to 60 consecutive months, distributed on a pro
rata basis. Payments will stop once either 60 monthly payments have
been made or all allowed claims are paid in full. These claims are
classified as impaired.
* Class 8 consists of ownership interests, and Timika Gaten will
retain 100% ownership of the Debtor.
Funding for the plan will primarily come from the continued
operation of Glamrus Salon Suites, with additional financial
support available from other plan funding sources. Payments to
Byline Bank and other creditors may be made either by the Debtor or
directly by a plan funding source on the Debtor's behalf, with
those payments credited toward the Debtor's obligations.
The Debtor will generally serve as the disbursing agent under the
plan, may continue using its bank accounts in the ordinary course
of business, and may pay ordinary administrative expenses while
implementing the confirmed plan.
A full-text copy of the Disclosure Statement dated August 3, 2026
is available at https://urlcurt.com/u?l=3SoPKA from
PacerMonitor.com at no charge.
Counsel to the Debtor:
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 TTNG Holdings Corp.
TTNG Holdings Corp. is a single-asset real estate company
classified under SIC 6519 for lessors of real property not
elsewhere classified.
TTNG Holdings Corp. filed its voluntary petition for relief under
Chapter 11 of the Bankruptcy Code (Bankr. N.D. Ga. Case No.
26-55841) on May 4, 2026, listing $1 million to $10 million in both
assets and liabilities. The petition was signed by Timika Gaten as
president.
Judge Lisa Ritchey Craig presides over the case.
Scott Riddle, Esq. at LAW OFFICE OF SCOTT B. RIDDLE, LLC serves as
the Debtor's counsel.
U.S. TELEPACIFIC: Capital Southwest Marks $2.7MM 1L at 60% Off
--------------------------------------------------------------
Capital Southwest Corp. has marked its $2.7 million First Lien loan
to U.S. Telepathic Corp. to market at $1.1 million or 40% of the
outstanding amount, according to Capital Southwest's Form 10-Q for
the fiscal quarter ended Aug. 3, 2026, filed with the U.S.
Securities and Exchange Commission.
Capital Southwest is a participant in a loan extended to U.S.
Telepathic Corp. The First Lien loan accrues interest at 13.75% per
annum and matures on May 4, 2026.
Capital Southwest Corp. is a business development company that
provides financing solutions to middle-market businesses.
The Fund is led by Michael S. Sarner as President and Chief
Executive Officer.
The Fund can be reached at:
Michael S. Sarner
Capital Southwest Corp.
8333 Douglas Avenue, Suite 1100
Dallas, TX 75225
Telephone: (214) 238-5700
About U.S. TelePacific Corp.
U.S. TelePacific Corp., doing business as TPx Communications, is a
U.S. managed IT and telecommunications provider founded in 1998.
U.S. TELEPACIFIC: Capital Southwest Marks $230,000 Loan at 75% Off
------------------------------------------------------------------
Capital Southwest Corp. has marked its $230,000 third lien loan to
U.S. Telepacific Corp. to market at $58,000, or 25% of the
outstanding amount, according to Capital Southwest's 10-Q for the
fiscal quarter ended Aug. 3, 2026, filed with the U.S. Securities
and Exchange Commission.
Capital Southwest is a participant in a loan extended to Capital
Southwest Corp. The third lien loan matures on May 3, 2027.
Capital Southwest Corp. is a business development company that
provides financing solutions to middle-market businesses.
The Fund is led by Michael S. Sarner as President and Chief
Executive Officer.
The Fund can be reached at:
Michael S. Sarner
Capital Southwest Corp.
8333 Douglas Avenue, Suite 1100
Dallas, TX 75225
Telephone: (214) 238-5700
About Capital Southwest Corp.
Capital Southwest Corp. is a business development company. The firm
specializes in credit and private equity and venture capital
investments.
UPSTREAM NEWCO: Moody's Raises CFR to Caa1, Outlook Remains Stable
------------------------------------------------------------------
Moody's Ratings upgraded Upstream Newco, Inc.'s ("Upstream")
ratings, including the Corporate Family Rating to Caa1 from Caa2
and the Probability of Default Rating to Caa1-PD from Caa2-PD.
Moody's also upgraded the company's backed first lien senior
secured bank credit facility rating to B3 from Caa1 and affirmed
the Caa3 rating on the backed senior secured second lien term loans
issued by Upstream Holdco, Inc. The outlook for Upstream Newco,
Inc. remains stable, and Moody's have also assigned a stable
outlook to Upstream Holdco, Inc. Additionally, Moody's have revised
the display on Moody's websites to reflect that the senior secured
second lien term loans are issued by Upstream Holdco, Inc.
The ratings upgrade reflects improvements in the company's earnings
and liquidity as well as the company successfully extending the
maturity of its capital structure.
RATINGS RATIONALE
Upstream's Caa1 Corporate Family Rating reflects its high financial
leverage. Moody's expects that leverage will remain high but
gradually improve due to organic and de novo growth. The CFR also
reflects risks tied to the company's rapid expansion strategy, low
barriers to entry into the physical therapy business, and risk of
market oversaturation given the rapid expansion of Upstream and
many of its competitors.
Upstream's rating is supported by the company's track record of
same store sales growth, recent improvements in performance and
Moody's views that demand for physical therapy will continue to
grow given it is relatively low-cost and relative advantage to more
expensive treatments or opioid pain management.
The stable outlook reflects Moody's expectations that Upstream
Newco, Inc.'s earnings will continue to improve over the next 12 to
18 months, although leverage will remain elevated in the
mid-to-high 7x range. The outlook also incorporates Moody's
expectations that payment-in-kind (PIK) features will slow the pace
of deleveraging.
Moody's expects Upstream to maintain adequate liquidity over the
next 12-18 months. The company's liquidity is supported by $42
million of cash and $38 million available on its revolving credit
facility as of March 31, 2026. Moody's expects Upstream to generate
a small amount of positive free cash flow in 2026 and thereafter.
Positive free cash flow will be significantly supported by the
payment-in-kind (PIK) interest feature on the company's second lien
term loans and the PIK component on its first lien term loan, which
reduces cash interest requirements and supports liquidity.
The first lien revolver and term loan are rated B3, one notch above
the Caa1 CFR. This reflects the first lien credit facility's
priority positions compared to the senior secured second lien term
loans (rated Caa3), which would absorb the first losses in a
default. Upstream Newco, Inc. is the borrower on the Company's
first lien credit agreement and Upstream Holdco, Inc. is the
borrower on the Company's second lien credit agreement.
FACTORS THAT COULD LEAD TO AN UPGRADE OR DOWNGRADE OF THE RATINGS
The ratings could be upgraded if operating performance and
liquidity continue to improve.
The ratings could be downgraded if the company's performance
deteriorates, probability of default increases further or the
company defaults.
Upstream Newco, Inc., headquartered in Birmingham, Alabama, is a
provider of outpatient rehabilitation services - primarily physical
therapy. Through its subsidiaries, Upstream Newco, Inc. operates
about 1,270 clinics in 28 states, with a strong presence in the
Southeast. Upstream Newco, Inc. is owned by Revelstoke Capital
Partners, LLC, a Denver-based private equity firm. The company's
revenue for the twelve months ended March 31, 2026 is approximately
$754 million ($833 million including unconsolidated subsidiary
revenue under management).
The principal methodology used in these ratings was Business and
Consumer Services published in February 2026.
US FERTILITY: New Mountain Virtually Writes Off $383MM Loan
-----------------------------------------------------------
New Mountain Finance Corp has marked its $383,000 loan to US
Fertility Enterprises, LLC to market at $2,000 or 1% of the
outstanding amount, according to New Mountain's 10-Q for the fiscal
quarter ended Aug. 3, 2026, filed with the U.S. Securities and
Exchange Commission.
New Mountain is a participant in a first-lien loan extended to US
Fertility Enterprises.
New Mountain Finance Corp is a closed-end, externally managed,
non-diversified management investment company that operates as a
business development company, primarily investing in middle-market
companies in the United States.
The Fund is led by John R. Kline as President, Chief Executive
Officer (Principal Executive Officer) and Director.
The Fund can be reached at:
John R. Kline
New Mountain Finance Corporation
1633 Broadway, 48th Floor
New York, NY 10019
Telephone: (212) 720-0300
About US FERTILITY ENTERPRISES, LLC
Limited information about US Fertility Enterprises, LLC was
available from the filing.
V2X INC: S&P Ups ICR to 'BB-' on Demand Tailwinds, Outlook Stable
-----------------------------------------------------------------
S&P Global Ratings raised its issuer credit rating on V2X Inc. to
'BB-' from 'B+', reflecting its expectation for S&P Global
Ratings-adjusted debt to EBITDA to improve to 3.5x in 2026, with
funds from operations (FFO) to debt of 20.7%.
S&P said, "At the same time, we raised our issue-level rating on
the company's senior secured debt to 'BB-'. The '3' recovery rating
is unchanged and indicates our expectation for meaningful (50%-70%;
rounded estimate: 50%) recovery in the event of a default.
"The stable outlook reflects our expectation that V2X's credit
metrics will remain in line with the rating as the company improves
its profitability and expands its contract base."
V2X Inc.'s credit measures have improved as it executes on
contracts while opportunistically repaying debt and reducing
utilization under its master accounts receivable purchase agreement
(MARPA) facility.
Its backlog ($12.7 billion at the end of the second quarter)
remains robust and well aligned with defense spending priorities,
which S&P continues to expect will remain well funded.
The upgrade reflects V2X's strong backlog execution and demand
tailwinds. S&P now expects revenue growth of 8%-12% in 2026
(previous expectation of 2%-4%), as customer demand has accelerated
backlog execution beyond prior expectations. The total backlog
(inclusive of funded and unfunded awards) contracted to $12.7
billion in the second quarter from $13.8 billion, as $415 million
related to the LOGCAP V – Kuwait program was removed. Work on the
contract was stopped due to the war with Iran. However, S&P expects
award activity will be robust, with opportunities for margin
expansion supported by U.S. defense spending. This is demonstrated
by the $1 billion in awards announced after the quarter, which
management has described as accretive to current margins.
V2X's S&P Global Ratings-adjusted EBITDA margin will likely be
toward the low end of the 7%-8% range in 2026, which is offsetting
some of the benefit of stronger topline growth in the near term.
This largely reflects the contract mix, as larger contracts are
ramping up (including the T-6 COMBS, Iraq and U.S. F-16 related
contracts, and W-TRS) and typically exhibit lower profitability in
the early stages. Therefore, EBITDA margins may expand as programs
mature and the mix improves.
Free operating cash flow (FOCF) is expected to remain solidly
positive. S&P forecasts S&P Global Ratings-adjusted FOCF of $125
million-$150 million in 2026, improving to $175 million-$225
million in 2027. (This calculation adjusts for the impact of higher
working-capital outflows related to the reduced MARPA utilization
through the first half of the year.)
The company's cash flows are somewhat seasonal. Historically,
they've been negative in the first half of the year as investments
are made for program expansion, and then collections accelerate in
the second half of the year. However, working-capital management
has improved year over year, resulting in solidly positive
operating cash flow (adjusted for the lower MARPA utilization),
with cash flows expected to improve further in the back half of the
year.
Although returning capital to shareholders is part of V2X's
capital-allocation strategy, it has deemphasized this somewhat in
favor of reducing leverage and pursuing growth. V2X
opportunistically repaid about $30 million under its term loan and
utilization under the MARPA facility was also reduced by nearly
$145 million through the second quarter. S&P said, "We regard these
as positive credit factors. Accordingly, while we include about $25
million of annual share repurchases in our forecast, the company
could reallocate cash toward other priorities, which could benefit
credit measures beyond our current forecast."
V2X's progress toward its stated leverage target of 2x supports the
rating. S&P said, "While its stated long term leverage target is
2x-3x (we estimate that on an S&P Global Ratings-adjusted basis,
this would be about 2.75x-3.75x) by the end of the year, it could
achieve leverage below 2x (inclusive of the MARPA facility and
excluding cash, this would be about 3x-3.5x). In our calculation,
we don't net cash and include our assumption for the MARPA
utilization."
There is some risk that V2X could releverage the business to pursue
acquisitions. S&P said, "However, we expect any acquisition would
be accretive to margins, diversify away from logistics contracts,
and remain aligned with U.S. defense spending priorities. These
include aircraft modernization, space domain awareness, and air and
missile defense systems, among other initiatives. Therefore, we
believe V2X would reduce leverage over time if it pursued
acquisitions. The scale of companies being acquired would be the
likely driver of any potential negative ratings pressure. In other
words, transformative M&A could place negative pressure on the
ratings, but if acquisitions are in line with our forecast (about
$30 million in 2026 and $100 million per year thereafter), we would
expect the company to maintain credit measures appropriate for the
rating. We forecast S&P Global Ratings-adjusted debt to EBITDA of
3.5x in 2026, improving to the low-3x area in 2027, with adjusted
FFO to debt of 20.7% in 2026 and 23% in 2027."
S&P said, "The stable outlook reflects our expectation that V2X's
credit metrics will remain in line with the rating as the company
improves its profitability and expands its contract base. We
forecast S&P Global Ratings-adjusted debt to EBITDA of 3.5x and FFO
to debt of 20.7% in 2026.
"We could lower our rating on V2X if its S&P Global
Ratings-adjusted debt to EBITDA deteriorates above 4x or FFO to
debt returns below 20% for a prolonged period. This would likely
occur if the contract mix or contract execution worsens, if it
loses a large contract without replacement, or if debt-funded
acquisitions result in credit measures no longer commensurate with
the rating.
"While unlikely in the next 12 months, we could raise our rating on
V2X if its S&P Global Ratings-adjusted debt to EBITDA improves
below 3x and its FFO to debt improves above 30%, and we expect it
to sustain these metrics. This would likely occur if the company
commits to maintaining leverage in line with a higher rating, uses
cash on hand toward debt repayment, meaningfully improves its
scale, and improves the S&P Global Ratings-adjusted EBITDA margin
above 8% as it expands capabilities through organic investments."
VALCOUR PACKAGING: New Mountain Marks $2.3MM Loan 22% Off
---------------------------------------------------------
New Mountain Finance Corp has marked its $2,337,000 loan to Valcour
Packaging, LLC to market at $1,873,000 or 78% of the outstanding
amount, according to New Mountain's Form 10-Q for the fiscal
quarter ended Aug. 3, 2026, filed with the U.S. Securities and
Exchange Commission.
New Mountain is a participant in a loan extended to Valcour
Packaging. The loan accrues interest at 7.60% per annum and matures
in October 2028.
New Mountain Finance Corp is a closed-end, externally managed,
non-diversified management investment company that operates as a
business development company, primarily investing in middle-market
companies in the United States.
The Fund is led by John R. Kline as President, Chief Executive
Officer (Principal Executive Officer) and Director.
The Fund can be reached at:
John R. Kline
New Mountain Finance Corporation
1633 Broadway, 48th Floor
New York, NY 10019
Telephone: (212) 720-0300
About VALCOUR PACKAGING, LLC
Limited information about Valcour Packaging, LLC was available from
the filing.
VALCOUR PACKAGING: New Mountain Marks $3.6MM Loan 15% Off
---------------------------------------------------------
New Mountain Finance Corp has marked its $3,650,000 loan to Valcour
Packaging, LLC to market at $1.8 million or 85% of the outstanding
amount, according to New Mountain's Form 10-Q for the fiscal
quarter ended Aug. 3, 2026, filed with the U.S. Securities and
Exchange Commission.
New Mountain is a participant in a loan extended to Valcour
Packaging. The loan accrues interest at 7.60% per annum and matures
in October 2028.
New Mountain Finance Corp is a closed-end, externally managed,
non-diversified management investment company that operates as a
business development company, primarily investing in middle-market
companies in the United States.
The Fund is led by John R. Kline as President, Chief Executive
Officer (Principal Executive Officer) and Director.
The Fund can be reached at:
John R. Kline
New Mountain Finance Corporation
1633 Broadway, 48th Floor
New York, NY 10019
Telephone: (212) 720-0300
About VALCOUR PACKAGING, LLC
Limited information about Valcour Packaging, LLC was available from
the filing.
VAREX IMAGING: S&P Places 'B+' ICR on CreditWatch Positive
----------------------------------------------------------
S&P Global Ratings placed its 'B+' issuer credit rating on
U.S.-based X-ray components manufacturer Varex Imaging Corp. on
CreditWatch with positive implications.
S&P said, "The CreditWatch placement reflects the likelihood that
we could raise our ratings on Varex to match our ratings on
Teledyne (BBB/Stable/--) at transaction close. We expect to resolve
the CreditWatch placement when the transaction closes, most likely
in the first half of 2027."
Varex Imaging announced it entered into a definitive agreement to
be acquired by Teledyne Technologies Inc. in a transaction valued
at approximately $1.1 billion. The transaction is subject to
regulatory approval and other closing conditions.
Once completed, Varex will then become a subsidiary of Teledyne.
The CreditWatch placement follows the announcement that Varex will
be acquired by higher rated Teledyne. The two companies jointly
announced they have entered into a definitive agreement, under
which Teledyne will acquire all of Varex's outstanding common
shares for $18.90 per share payable in cash, reflecting equity
value of approximately $800 million. The total transaction value is
approximately $1.1 billion, including Varex's equity awards and net
debt. S&P believes Teledyne will integrate Varex into its
operations and the transaction will be positive for Varex given the
stronger investment-grade rating on Teledyne and its larger scale.
Given change of control provisions, S&P assumes the transaction
will retire Varex's existing credit facility (unrated), which
includes a $100 million revolving credit facility, a $350 million
first-lien term A and a $40 million delayed draw term loan
(undrawn). The transaction is expected to close in early 2027
calendar year, subject to shareholder and regulatory approvals and
other customary closing conditions.
The CreditWatch placement reflects the likelihood that S&P could
raise the rating to match our ratings on Teledyne at transaction
close.
S&P expects to resolve the CreditWatch placement upon completion of
the transaction. At that time, it will likely raise its issuer
credit rating on Varex and equalize it with that of Teledyne.
WATERFRONT RESORT: Ch. 11 Trustee Seeks Contempt in Condo Rent Case
-------------------------------------------------------------------
Ben Zigterman of Law360 Bankruptcy Authority reports that the
Chapter 11 trustee for Waterfront Resort Holdings has asked the
bankruptcy court to examine whether three people should be held in
contempt over an alleged rental scheme involving the debtor's 105
unsold New York City condominium units. The trustee says the
conduct violated orders entered in the bankruptcy case.
According to the trustee, rental payments connected to the
condominium properties were handled in a manner that allegedly
conflicted with the court's directives. The trustee is asking the
judge to address the alleged violations and take steps to safeguard
rental proceeds and other estate assets.
The dispute comes as Waterfront Resort Holdings continues its
Chapter 11 proceedings involving its unsold condominium inventory.
The trustee's latest filing seeks to enforce the court's authority
over the properties while pursuing recoveries for the bankruptcy
estate and its creditors, according to Law360.
About Waterfront Resort Holdings LLC
Waterfront Resort Holdings, LLC is the fee owner of 105 unsold
units at the Allura Waterfront Condominium as well as a parking
unit located at 109-09 15th Avenue, College Point, New York. The
current estimated value of the Debtor's interest in the property is
approximately $80 million.
Waterfront Resort Holdings sought relief under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. E.D.N.Y. Case No. 25-40041) on January
6, 2025. In its petition, the Debtor reported total assets of
$80,006,241 and total liabilities of $70,500,000.
Honorable Bankruptcy Judge Jil Mazer-Marino handles the case.
Heath S. Berger, Esq., at Berger, Fischott, Shumer, Wexler &
Goodman, LLP represents the Debtor as legal counsel.
WAYFAIR LLC: S&P Upgrades ICR to 'BB' on Solid Performance
----------------------------------------------------------
S&P Global Ratings raised its issuer credit rating on U.S.-based
e-commerce retailer Wayfair LLC to 'BB' from 'B+' and its
issue-level rating on its senior secured debt to 'BB+' from 'BB-'.
The '2' recovery rating is unchanged.
The stable outlook reflects S&P's expectation of S&P Global
Ratings-adjusted EBITDA margin approaching 8% this year from
additional market share gains and cost control, approximately $400
million of free operating cash flow (FOCF), and sustained S&P
Global Ratings-adjusted leverage below 3x.
Wayfair LLC's strong operating momentum has led to
better-than-expected profitability, cash flow, and credit metrics,
including S&P Global Ratings-adjusted leverage of 2.5x as of June
30, 2026.
S&P Global Ratings expects earnings and cash flow will continue to
expand as expense management and customer-focused strategic
initiatives improve market share and operating leverage, keeping
adjusted debt to EBITDA below 3x.
S&P said, "The upgrade reflects solid operating results, improving
FOCF, and stronger credit metrics. Wayfair has outperformed our
forecast through the first half of 2026, with accelerating sales
and earnings contributing to significant deleveraging, despite
ongoing softness in the home category and broader macroeconomic
uncertainty. We expect these trends will continue as Wayfair
benefits from growth initiatives and cost discipline, sustaining
stronger profitability and credit measures."
Revenue improved 7.5% year over year during the second quarter,
driven by 6% more transactions and slightly higher average order
values. Wayfair's efforts to strengthen its competitive offering,
including expanding its merchandising catalogue, increasing product
availability, and improving delivery and service are translating to
high-single-digit percent market share gains in a category that
continues to experience tepid demand. The company is also seeing
success in its luxury (35% sales increase) and specialty brands
(20%) during the quarter, with its brand investments resonating
with the more resilient, affluent customer segment. In addition to
top-line growth, cost-management initiatives around selling,
general and administrative expenses and advertising savings have
led to solid earnings increases, with trailing-12-months S&P Global
Ratings-adjusted EBITDA improving roughly 50% year over year.
Cash flow conversion has also strengthened, with reported FOCF
improving to $301 million during the second quarter and S&P Global
Ratings-adjusted leverage to 2.5x for the 12 months ended June 30,
2026, from 4.1x for the same period last year.
Strategies to strengthen the shopping experience, expand reach, and
build customer loyalty should continue market share gains. S&P
said, "We expect revenue will increase 7.2% in 2026 and 6.3% in
2027, well ahead of the home furnishing category, as Wayfair
captures incremental market share from a channel shift to online
and growth initiatives. Active customers on Wayfair's platform
improved roughly 3% year over year during the quarter. Newer
initiatives including Wayfair Rewards, Verified, enhanced delivery
options, and physical store expansion should support additional
customer expansion and strengthen loyalty over time, in our view."
Its international business, approximately 11% of total sales, is
underperforming, due to weaker macroeconomic conditions in Canada
and the U.K. However, the Rewards program was only recently
launched abroad. S&P expects it will gain traction over time.
S&P said, "We expect solid top-line growth and continued expense
discipline will drive annual mid-teens percent adjusted EBITDA
improvement the next two years. For the most recent
trailing-12-months period, Wayfair expanded S&P Global
Ratings-adjusted EBITDA margin by 230 basis points (bps) to 7.9%.
Although we expect ongoing investments across its platform will
modestly pressure gross margin, we forecast sales growth,
advertising efficiencies, and controlled selling, general, and
administrative spending will expand adjusted margins."
Solid liquidity and an improving balance sheet provide flexibility
to invest in the business while supporting its capital allocation
priorities. Wayfair maintains ample liquidity, with a cash and
short-term investment balance of more than $1.1 billion and
availability of $418 million under its $500 million revolving
credit facility ($82 million in outstanding letters of credit) as
of June 30, 2026. It has historically operated with a minimum cash
threshold of $1 billion, which S&P expects will continue.
Additionally, the company's operating model, in which it holds
minimal inventory and is paid by customers before paying suppliers,
enables working capital float that results in a negative cash
conversion cycle.
S&P projects FOCF will expand to roughly $400 million in 2026 and
exceed $500 million in 2027, supported by stronger earnings,
favorable working capital, and capital expenditure (capex) just
below 2% of sales. The rapid improvement in Wayfair's FOCF profile
is relatively recent, with a mixed track record of positive FOCF.
The company repaid approximately $840 million of its convertible
notes principal this year, using a combination of FOCF, issuance of
common stock, and a $400 million senior secured notes offering.
Near-term maturities are manageable, with $39 million in
convertible notes due later this month and $229 million due in
September 2027. While Wayfair's maturity profile has improved,
trailing-12-months S&P Global Ratings-adjusted interest expense has
increased 33% year over year due to the greater mix of higher-cost
senior secured debt in its capital structure.
S&P said, "We expect share repurchases will become a greater use of
cash, with management focused at first on offsetting dilution from
its stock-based compensation. Wayfair has historically expanded
organically, and we do not expect material mergers or
acquisitions."
Wayfair will maintain adjusted leverage of below 3x, supported by
its high cash balance. Its credit measures have strengthened
significantly and quickly, driven by accelerating earnings, FOCF,
and convertible debt redemption. S&P said, "The company's
substantial balance sheet cash position benefits our leverage
calculation because we net cash. We now project S&P Global
Ratings-adjusted debt to EBITDA of 2.6x at the end of 2026 and the
low-2x area in 2027. FOCF to debt will remain in the 20%-25% range
over the next 12 months. We therefore revised our assessment of
Wayfair's financial risk profile to intermediate from aggressive."
S&P said, "Wayfair has delivered strong results recently, with
rapid EBITDA improvement, and we note it has a limited track record
of sustaining this operating success and credit metrics. The
company's product offering is concentrated in home furnishings,
which we view as highly discretionary and subject to volatile
demand when consumer confidence is low. Demand is tethered to home
sales and turnover in residential real estate, which have been slow
due to higher interest rates and low supply and could slow further
if economic conditions worsen. We expect the category to remain
highly promotional, and Wayfair may need to make additional
investments to increase demand. The online furniture and home goods
market is fragmented but includes much larger retailers such as
Amazon and Walmart. We believe they will likely invest more heavily
in the newer marketing channels. Based on the above factors, we
apply a negative comparable ratings analysis modifier to Wayfair.
"The stable outlook on Wayfair reflects our expectation that
additional market share gains and cost control will lead to S&P
Global Ratings-adjusted EBITDA margin approaching 8% this year,
supporting FOCF of approximately $400 million and adjusted leverage
below 3x."
S&P could lower its rating on Wayfair if it expects S&P Global
Ratings-adjusted debt to EBITDA to remain above 3.5x. This could
occur if:
-- Operating performance deteriorates sharply, possibly due to
weakening macroeconomic conditions or intensifying competition,
reducing sales, profitability, and FOCF; or
-- It pursues a more aggressive financial policy than S&P expects,
including debt-funded shareholder returns or acquisitions.
S&P could raise its rating on Wayfair if it expects S&P Global
Ratings-adjusted debt to EBITDA to remain below 2.5x and the
company achieves consistent topline and earnings growth. This could
occur if:
-- It continues to increase the scale of its business and shows a
sustained track record of sales growth, adjusted EBITDA margin
expansion, and solid FOCF, even amid soft industry demand,
demonstrating the resiliency of its operating model; and
-- Its financial policy demonstrates a commitment to maintaining
S&P Global Ratings-adjusted leverage below 2.5x.
WEPELLET LLC: Case Summary & Seven Unsecured Creditors
------------------------------------------------------
Debtor: Wepellet LLC
DBA THRYV Collective
204 13th Street W
Bradenton, FL 34205
Business Description: Wepellet LLC, doing business as THRYV
Collective, provides medical and wellness services through
locations in Bradenton, Florida, and the San Diego area of
California. The company offers hormone and peptide therapies,
regenerative treatments, mental- and cognitive-wellness programs,
intravenous therapy, diagnostic testing, and individualized health
protocols. It also provides consultations, follow-up care, patient
support, and care coordination under licensed-provider oversight.
Chapter 11 Petition Date: August 4, 2026
Court: United States Bankruptcy Court
Middle District of Florida
Case No.: 26-06952
Judge: Hon. Luis Ernesto Rivera II
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
Total Assets: $34,887
Total Liabilities: $2,050,816
The petition was signed by David Buzzetti as manager.
A full-text copy of the petition, which includes a list of the
Debtor's seven unsecured creditors, is available for free on
PacerMonitor at:
https://www.pacermonitor.com/view/64ACUFQ/Wepellet_LLC__flmbke-26-06952__0001.0.pdf?mcid=tGE4TAMA
WEST MARINE: Gets Court OK to Exit Chapter 11, To Cut Debt
----------------------------------------------------------
Alex Wittenberg of Law360 Bankruptcy Authority reports that a
Delaware bankruptcy court has approved West Marine Inc.'s Chapter
11 plan, enabling the boating retailer to transfer control of the
company to its lenders and prepare to exit bankruptcy. The approval
marks a major step toward completing the company's restructuring
and reducing its debt load.
West Marine's plan restructures approximately $429 million of
secured debt. Under the deal, holders of the company’s $251
million term-loan claims will receive the equity of the reorganized
business, while ABL and FILO lenders will either receive full
payment or exit debt in exchange for their claims, the report
relays.
The treatment leaves general unsecured creditors with a sharply
reduced recovery. They are expected to share $250,000 on a pro rata
basis, producing an estimated recovery of just 0.2% to 0.3%. West
Marine filed for Chapter 11 on May 17 in the District of Delaware
as it sought to reorganize its heavily leveraged balance sheet,
according to report.
About West Marine Inc.
West Marine Inc. is a U.S.-based marine retail company specializing
in boating, fishing and marine maintenance products. Established in
1968, the company operates one of the country's largest networks of
boating supply stores, offering products ranging from marine
electronics and navigation tools to fishing accessories, apparel
and safety equipment.
West Marine Inc. and certain of its affiliates sought relief under
Chapter 11 of the U.S. Bankruptcy Code (Bankr. D. Del. Lead Case
No. 26-10794) on May 17, 2026. In its petition, the Debtor reported
estimated total assets of $500 million to $1 billion and estimated
liabilities of $500 million to $1 billion. The petition was signed
by Paulee Day as chief executive officer.
The Debtors' restructuring counsel is Young Conaway Stargatt
Taylor, LLP and their co-bankruptcy counsel is Kirkland & Ellis
LLP. The Debtors tapped Triple P Securities, LLC as their
investment banker. FTI Consulting Inc. is the Debtors'
restructuring advisor. The Debtors' claims and noticing agent is
Kurtzman Carson Consultants LLC dba Verita Global. Hilco Merchant
Resource LLC and Hilco Real Estate LLC is the Debtors' real estate
advisor and liquidator.
WINESHIPPING.COM LLC: Golub Capital Marks $11.4MM Loan at 29% Off
-----------------------------------------------------------------
Golub Capital BDC, Inc. has marked its $11.4 million one stop loan
to Wineshipping.com, LLC to market at $8.1 million or 71% of the
outstanding amount, according to Golub Capital's Form 10-Q for the
fiscal quarter ended June 30, 2026, filed with the U.S. Securities
and Exchange Commission.
Golub Capital is a participant in a loan extended to
Wineshipping.com. The One stop accrues interest at SF + 6.25% per
annum. The One stop matures in Dec. 2028.
Golub Capital BDC, Inc. is an externally managed, closed-end,
non-diversified management investment company that primarily
invests in debt securities of middle-market companies.
The Fund is led by David B. Golub as Chief Executive Officer.
The Fund can be reached at:
David B. Golub
Golub Capital BDC, Inc.
200 Park Avenue, 25th Floor
New York, NY 10166
Telephone: (212) 750-6060
About Wineshipping.com LLC
Wineshipping.com LLC provides wine logistics and fulfillment
services. The Company offers temperature-controlled wine storage,
direct-to-consumer wine fulfillment, and wholesale distribution.
WINESHIPPING.COM LLC: Golub Capital Marks $308K Loan at 29% Off
---------------------------------------------------------------
Golub Capital BDC, Inc. has marked its $308,000 one stop loan to
Wineshipping.com, LLC to market at $219,000 or 71% of the
outstanding amount, according to Golub Capital's Form 10-Q for the
fiscal quarter ended June 30, 2026, filed with the U.S. Securities
and Exchange Commission.
Golub Capital is a participant in a loan extended to
Wineshipping.com. The One stop loan accrues interest at SF + 6.25%
per annum. The One stop loan matures in December 2028.
Golub Capital BDC, Inc. is an externally managed, closed-end,
non-diversified management investment company that primarily
invests in debt securities of middle-market companies.
The Fund is led by David B. Golub as Chief Executive Officer.
The Fund can be reached at:
David B. Golub
Golub Capital BDC, Inc.
200 Park Avenue, 25th Floor
New York, NY 10166
Telephone: (212) 750-6060
About Wineshipping.com LLC
Wineshipping.com LLC provides wine logistics and fulfillment
services. The Company offers temperature-controlled wine storage,
direct-to-consumer wine fulfillment, and wholesale distribution.
WINESHIPPING.COM: Golub Capital Marks $261,000 Loan at 31% Off
--------------------------------------------------------------
Golub Capital BDC, Inc. has marked its $261,000 loan to
Wineshipping.com, LLC to market at $181,000 or 69% of the
outstanding amount, according to Golub Capital's 10-Q for the
fiscal quarter ended June 30, 2026, filed with the U.S. Securities
and Exchange Commission.
Golub Capital is a participant in a loan extended to
Wineshipping.com. The loan accrues interest at SF + 6.25% per annum
and matures in December 2028.
Golub Capital BDC, Inc. is an externally managed, closed-end,
non-diversified management investment company that primarily
invests in debt securities of middle-market companies.
The Fund is led by David B. Golub as Chief Executive Officer.
The Fund can be reached at:
David B. Golub
Golub Capital BDC, Inc.
200 Park Avenue, 25th Floor
New York, NY 10166
Telephone: (212) 750-6060
About Wineshipping.com LLC
Wineshipping.com LLC provides wine logistics and fulfillment
services. The Company offers temperature-controlled wine storage,
direct-to-consumer wine fulfillment, and wholesale distribution.
[^] Recent Small-Dollar & Individual Chapter 11 Filings
-------------------------------------------------------
In re Brown Village Apartments LLC
Bankr. N.D. Ga. Case No. 26-59886
Chapter 11 Petition filed July 29, 2026
See
https://www.pacermonitor.com/view/HOPRFQQ/Brown_Village_Apartments_LLC__ganbke-26-59886__0001.0.pdf?mcid=tGE4TAMA
Filed Pro Se
In re 36 Handles Public House
Bankr. E.D. Calif. Case No. 26-24121
Chapter 11 Petition filed July 20, 2026
See
https://www.pacermonitor.com/view/3A4DMVA/36_Handles_Public_House__caebke-26-24121__0001.0.pdf?mcid=tGE4TAMA
Filed Pro Se
In re 13 Stones, LLC
Bankr. D. N.J. Case No. 26-18254
Chapter 11 Petition filed July 20, 2026
See
https://www.pacermonitor.com/view/RW2DYOQ/13_Stones_LLC__njbke-26-18254__0001.0.pdf?mcid=tGE4TAMA
represented by: John O'Boyle, Esq.
NORGAARD OBOYLE HANNON
E-mail: joboyle@norgaardfirm.com
In re Atherton Associates, Inc.
Bankr. N.D. Calif. Case No. 26-30633
Chapter 11 Petition filed July 20, 2026
See
https://www.pacermonitor.com/view/YPD6DFQ/Atherton_Associates_Inc__canbke-26-30633__0001.0.pdf?mcid=tGE4TAMA
represented by: Matthew D. Metzger, Esq.
BELVEDERE LEGAL, P.C.
E-mail: info@belvederelegal.com
In re Rambo Transport Inc.
Bankr. E.D. Calif. Case No. 26-13378
Chapter 11 Petition filed July 21, 2026
See
https://www.pacermonitor.com/view/5LSQIFA/Rambo_Transport_Inc__caebke-26-13378__0001.0.pdf?mcid=tGE4TAMA
represented by: Thomas B. Ure, Esq.
URE LAW FIRM
E-mail: tom@urelawfirm.com
In re Mulberrys Mobile Provider Services, LLC
Bankr. N.D. Fla. Case No. 26-10213
Chapter 11 Petition filed July 21, 2026
See
https://www.pacermonitor.com/view/NQLBM7Q/Mulberrys_Mobile_Provider_Services__flnbke-26-10213__0001.0.pdf?mcid=tGE4TAMA
represented by: Justin M. Luna, Esq.
LATHAM LUNA EDEN & BEAUDINE LLP
E-mail: jluna@lathamluna.com
In re Opportunity Zone LLC
Bankr. D. Neb. Case No. 26-80840
Chapter 11 Petition filed July 20, 2026
See
https://www.pacermonitor.com/view/2SCM5XI/Opportunity_Zone_LLC__nebke-26-80840__0001.0.pdf?mcid=tGE4TAMA
Filed Pro Se
In re KCG MD, LLC
Bankr. D.C. Case No. 26-00377
Chapter 11 Petition filed July 23, 2026
See
https://www.pacermonitor.com/view/GOVC7NY/KCG_MD_LLC__dcbke-26-00377__0001.0.pdf?mcid=tGE4TAMA
represented by: Augustus T. Curtis, Esq.
OFFIT KURMAN, P.A.
E-mail: augie.curtis@offitkurman.com
In re RAZAD Enterprises, LLC
Bankr. E.D. Tex. Case No. 26-42502
Chapter 11 Petition filed July 23, 2026
See
https://www.pacermonitor.com/view/4UI5F3Y/RAZAD_Enterprises_LLC__txebke-26-42502__0001.0.pdf?mcid=tGE4TAMA
represented by: Robert C Lane, Esq.
THE LANE LAW FIRM
E-mail: notifications@lanelaw.com
In re Richard J. Larkin and Nancy B. Larkin
Bankr. D. Maine Case No. 26-10156
Chapter 11 Petition filed July 30, 2026
represented by: Anderson, D. Sam, Esq.
In re Melanie NMN Espinet
Bankr. M.D. Fla. Case No. 26-06714
Chapter 11 Petition filed July 30, 2026
represented by: Samantha Dammer, Esq.
In re Adam J. Hopkins
Bankr. S.D. Miss. Case No. 26-51232
Chapter 11 Petition filed July 30, 2026
represented by: Michael Ramsey, Esq.
SHEEHAN & RAMSEY, PLLC
In re Raymond E. Greenstreet II and Stacy S. Greenstreet
Bankr. D. Md. Case No. 26-18275
Chapter 11 Petition filed July 30, 2026
represented by: Tate Russack, Esq.
In re William Vander Velde, III
Bankr. N.D. Ill. Case No. 26-12591
Chapter 11 Petition filed July 30, 2026
represented by: David Herzog, Esq.
In re Joe-seph Jay Yates and Wendy Marie Yates
Bankr. D. Ore. Case No. 26-32655
Chapter 11 Petition filed July 30, 2026
represented by: Keith Boyd, Esq.
KEITH Y. BOYD P.C.
In re Keith Knoderer Brian
Bankr. S.D. Ind. Case No. 26-04941
Chapter 11 Petition filed July 30, 2026
represented by: KC Cohen, Esq.
In re Nathaniel L. Sanders, Sr. and Jacqueline D. Sanders
Bankr. W.D. Ky. Case No. 26-32015
Chapter 11 Petition filed July 29, 2026
represented by: Christian J. Dennery, Esq.
In re David Wayne Duplechin
Bankr. W.D. La. Case No. 26-50700
Chapter 11 Petition filed July 29, 2026
represented by: Adam G. Young, Esq.
In re Patrick N. Narh-Martey
Bankr. M.D. Ga. Case No. 26-51311
Chapter 11 Petition filed July 29, 2026
represented by: Wesley Boyer, Esq.
BOYER TERRY LLC
In re Tawni Jean Ledbetter
Bankr. N.D. Tex. Case No. 26-43303
Chapter 11 Petition filed July 29, 2026
represented by: Emily Chou, Esq.
In re Wade Brandon Axthelm and Cynthia Lorraine Axthelm
Bankr. W.D. Wash. Case No. 26-12457
Chapter 11 Petition filed July 28, 2026
represented by: Thomas Neeleman, Esq.
NEELEMAN LAW GROUP PC
In re Keith Edward Harris and Katina Rena Harris
Bankr. W.D. Tenn. Case No. 26-24033
Chapter 11 Petition filed July 28, 2026
represented by: John Dunlap, Esq.
In re Daniel R. Hildebrandt
Bankr. D. Maine Case No. 26-10151
Chapter 11 Petition filed July 28, 2026
represented by: Tanya Sambatakos, Esq.
MOLLEUR LAW OFFICE
In re Anthony Todd Moore
Bankr. M.D. Fla. Case No. 26-05701
Chapter 11 Petition filed July 28, 2026
represented by: Jeffrey Ainsworth, Esq.
In re Ashley Marina Stephen
Bankr. D. Colo. Case No. 26-15459
Chapter 11 Petition filed July 28, 2026
represented by: Bonnie Bond, Esq.
LAW OFFICE OF BONNIE BELL BOND, LLC
In re Natorie Bowman
Bankr. N.D. Iowa Case No. 26-00720
Chapter 11 Petition filed July 27, 2026
represented by: Austin Peiffer, Esq.
In re Asefu D. Alemayehu
Bankr. D.C. Case No. 26-00385
Chapter 11 Petition filed July 27, 2026
represented by: Charles Iweanoge, Esq.
In re Paul Zsebedics
Bankr. M.D. Fla. Case No. 26-06550
Chapter 11 Petition filed July 27, 2026
represented by: Matthew Hale, Esq.
In re Kent Todd Schwickert
Bankr. D. Minn. Case No. 26-32402
Chapter 11 Petition filed July 27, 2026
represented by: Cameron Lallier, Esq.
BASSFORD REMELE, P.A.
In re Gina Ottele McGinnis and Jeffrey Shan McGinnis
Bankr. W.D. Wash. Case No. 26-12446
Chapter 11 Petition filed July 27, 2026
represented by: Joy Barnhart, Esq.
In re Conolly Printing & Media Group Inc
Bankr. W.D.N.Y. Case No. 26-20568
Chapter 11 Petition filed July 22, 2026
See
https://www.pacermonitor.com/view/CN5QD4I/Conolly_Printing__Media_Group__nywbke-26-20568__0001.0.pdf?mcid=tGE4TAMA
represented by: Michael Simon Baker, Esq.
MICHAEL S. BAKER, P.C.
Email: michael@nybusiness.law
In re Grand Place LLC
Bankr. E.D. Wash. Case No. 26-01457
Chapter 11 Petition filed July 22, 2026
See
https://www.pacermonitor.com/view/6EVKP6I/Grand_Place_LLC__waebke-26-01457__0001.0.pdf?mcid=tGE4TAMA
represented by: Douglas R. Ricks, Esq.
SUSSMAN SHANK LLP
E-mail: dricks@sussmanshank.com
In re Mag43 LLC
Bankr. C.D. Calif. Case No. 26-17240
Chapter 11 Petition filed July 22, 2026
See
https://www.pacermonitor.com/view/O3R4Z7A/Mag43_LLC__cacbke-26-17240__0001.0.pdf?mcid=tGE4TAMA
Filed Pro Se
In re Wanamaker Group, LLC
Bankr. D.C. Case No. 26-00376
Chapter 11 Petition filed July 23, 2026
See
https://www.pacermonitor.com/view/HQQPHHI/Wanamaker_Group_LLC__dcbke-26-00376__0001.0.pdf?mcid=tGE4TAMA
represented by: Augustus T. Curtis, Esq.
OFFIT KURMAN, P.A.
E-mail: augie.curtis@offitkurman.com
In re 1323 BLDG, LLC
Bankr. E.D. Ark. Case No. 26-12991
Chapter 11 Petition filed July 27, 2026
See
https://www.pacermonitor.com/view/5B4DA7A/1323_BLDG_LLC__arebke-26-12991__0001.0.pdf?mcid=tGE4TAMA
represented by: Cecille Doan, Esq.
LAW OFFICES OF CECILLE DOAN, LLC
Email: cecille@cashanddoan.com
In re Durand Healing and Wellness Center, LLC
Bankr. D. Ariz. Case No. 26-07470
Chapter 11 Petition filed July 28, 2026
See
https://www.pacermonitor.com/view/FU52NKA/Durand_Healing_and_Wellness_Center__azbke-26-07470__0001.0.pdf?mcid=tGE4TAMA
represented by: JoAnn Falgout, Esq.
DAVIS MILES - TEMPE, AZ
Email: jfalgout@davismiles.com
In re Columbia Post #1306, Catholic War Veterans Home Association
Bankr. E.D. Pa. Case No. 26-13168
Chapter 11 Petition filed July 28, 2026
See
https://www.pacermonitor.com/view/CL6QEDI/Columbia_Post_1306_Catholic_War__paebke-26-13168__0001.0.pdf?mcid=tGE4TAMA
represented by: James K. Jones, Esq.
CGA LAW FIRM
Email: jjones@cgalaw.com
In re Classic Garage, LLC
Bankr. S.D. Fla. Case No. 26-19915
Chapter 11 Petition filed July 28, 2026
See
https://www.pacermonitor.com/view/UFCRRXQ/Classic_Garage_LLC__flsbke-26-19915__0001.0.pdf?mcid=tGE4TAMA
represented by: Adam I. Skolnik, Esq.
LAW OFFICE OF ADAM I. SKOLNIK, PA
Email: askolnik@skolniklawpa.com
In re 4024 Jefferson Holdings LLC
Bankr. S.D.N.Y. Case No. 26-22740
Chapter 11 Petition filed July 28, 2026
See
https://www.pacermonitor.com/view/2JU2LDA/4024_Jefferson_Holdings_LLC__nysbke-26-22740__0001.0.pdf?mcid=tGE4TAMA
Filed Pro Se
In re Black Lion Transportation and Truck Repairs, LLC
Bankr. N.D. Ga. Case No. 26-59954
Chapter 11 Petition filed July 29, 2026
See
https://www.pacermonitor.com/view/T2SQ3UQ/Black_Lion_Transportation_and__ganbke-26-59954__0001.0.pdf?mcid=tGE4TAMA
represented by: Paul Reece Marr, Esq.
PAUL REECE MARR, P.C.
Email: paul.marr@marrlegal.com
In re Paci Electric, LLC
Bankr. S.D.N.Y. Case No. 26-22749
Chapter 11 Petition filed July 29, 2026
See
https://www.pacermonitor.com/view/53ZRVNQ/Paci_Electric_LLC__nysbke-26-22749__0001.0.pdf?mcid=tGE4TAMA
represented by: Julie Cvek Curley, Esq.
KIRBY AISNER & CURLEY LLP
Email: jcurley@kacllp.com
In re Revelation Group, Inc.
Bankr. S.D. Fla. Case No. 26-20023
Chapter 11 Petition filed July 29, 2026
See
https://www.pacermonitor.com/view/TBXHACI/Revelation_Group_Inc__flsbke-26-20023__0001.0.pdf?mcid=tGE4TAMA
represented by: Zach B. Shelomith, Esq.
SHELOMITH LAW
Email: zbs@lss.law
In re Tooele Valley Counseling PLLC
Bankr. D. Utah Case No. 26-24646
Chapter 11 Petition filed July 29, 2026
See
https://www.pacermonitor.com/view/KYTIWNA/Tooele_Valley_Counseling_PLLC__utbke-26-24646__0001.0.pdf?mcid=tGE4TAMA
represented by: Geoffrey L. Chesnut, Esq.
ARGUS LAW GROUP, PC
Email: gchesnut@arguslawgroup.com
In re Authentic Flavor, LLC
Bankr. S.D. Fla. Case No. 26-19725
Chapter 11 Petition filed July 23, 2026
See
https://www.pacermonitor.com/view/2DY46BI/Authentic_Flavor_LLC__flsbke-26-19725__0001.0.pdf?mcid=tGE4TAMA
represented by: Nicholas B. Bangos, Esq.
NICHOLAS B. BANGOS, PA
Email: nick@nbbpa.com
In re Grand Acquisitions LLC
Bankr. E.D. Wash. Case No. 26-01458
Chapter 11 Petition filed July 22, 2026
See
https://www.pacermonitor.com/view/6BMR5DQ/Grand_Acquisitions_LLC__waebke-26-01458__0001.0.pdf?mcid=tGE4TAMA
represented by: Douglas R. Ricks, Esq.
SUSSMAN SHANK LLP
Email: dricks@sussmanshank.com
In re G & S Shipping, Inc.
Bankr. E.D.N.Y. Case No. 26-43692
Chapter 11 Petition filed July 31, 2026
See
https://www.pacermonitor.com/view/SRIOBXA/G__S_Shipping_Inc__nyebke-26-43692__0001.0.pdf?mcid=tGE4TAMA
represented by: Jjais Forde, Esq.
LAW OFFICES OF JJAIS A. FORDE, PLLC
Email: bankruptcy@fordelawoffices.com
In re Atlantic Pool Pros, LLC
Bankr. D. N.J. Case No. 26-18664
Chapter 11 Petition filed July 31, 2026
See
https://www.pacermonitor.com/view/M5GJNWA/Atlantic_Pool_Pros_LLC__njbke-26-18664__0001.0.pdf?mcid=tGE4TAMA
represented by: Joseph Casello, Esq.
COLLINS, VELLA & CASELLO
Email: jcasello@cvclaw.net
In re Mars Fashion US Inc.
Bankr. E.D.N.Y. Case No. 26-73021
Chapter 11 Petition filed July 31, 2026
See
https://www.pacermonitor.com/view/ADPM5TY/Mars_Fashion_US_Inc__nyebke-26-73021__0001.0.pdf?mcid=tGE4TAMA
represented by: Heath S. Berger, Esq.
BFSNG LAW GROUP, LLP
Email: hberger@bfslawfirm.com
In re AA Sims Group LLC
Bankr. N.D. Ga. Case No. 26-60079
Chapter 11 Petition filed July 31, 2026
See
https://www.pacermonitor.com/view/HPCMFDQ/AA_Sims_Group_LLC__ganbke-26-60079__0001.0.pdf?mcid=tGE4TAMA
Filed Pro Se
In re Perry A. McNatt and Deborah Phillips McNatt
Bankr. N.D. Ala. Case No. 26-81730
Chapter 11 Petition filed July 31, 2026
represented by: Stuart Maples, Esq.
THOMPSON BURTON PLLC
In re Platinum Pines Ranch LLC
Bankr. D. Ariz. Case No. 26-07705
Chapter 11 Petition filed July 31, 2026
See
https://www.pacermonitor.com/view/NQOE2NI/PLATINUM_PINES_RANCH_LLC__azbke-26-07705__0001.0.pdf?mcid=tGE4TAMA
represented by: Eli Enger, Esq.
UDALL SHUMWAY PLC
Email: ete@udallshumway.com
In re Moses Berkowitz LLC
Bankr. D. Colo. Case No. 26-15529
Chapter 11 Petition filed July 30, 2026
See
https://www.pacermonitor.com/view/3MKZGAI/Moses_Berkowitz_LLC__cobke-26-15529__0001.0.pdf?mcid=tGE4TAMA
Filed Pro Se
In re The Bing Pizza, LLC
Bankr. S.D. Tex. Case No. 26-80544
Chapter 11 Petition filed July 31, 2026
See
https://www.pacermonitor.com/view/56AQSNI/The_Bing_Pizza_LLC__txsbke-26-80544__0001.0.pdf?mcid=tGE4TAMA
represented by: Matthew Hoffman, Esq.
HOFFMAN & SAWERIS, P.C.
Email: matthew@mhsawlaw.com
In re Mystique Escape Room, Inc
Bankr. M.D. Fla. Case No. 26-05909
Chapter 11 Petition filed July 31, 2026
See
https://www.pacermonitor.com/view/KY7V7TA/Mystique_Escape_Room_Inc__flmbke-26-05909__0001.0.pdf?mcid=tGE4TAMA
represented by: Jeffrey S. Ainsworth, Esq.
BRANSON AINSWORTH PLLC
Email: jeff@bransonlaw.com
In re MB Development and Management Solutions, LLC
Bankr. M.D. Pa. Case No. 26-02130
Chapter 11 Petition filed July 30, 2026
See
https://www.pacermonitor.com/view/X4XLBLY/MB_Development_and_Management__pambke-26-02130__0001.0.pdf?mcid=tGE4TAMA
represented by: Jason Zac Christman, Esq.
J. ZAC CHRISTMAN, ESQUIRE
Email: zac@jzacchristman.com
In re 202 Clarkson Avenue LLC
Bankr. E.D.N.Y. Case No. 26-43650
Chapter 11 Petition filed July 30, 2026
See
https://www.pacermonitor.com/view/WFICWSA/202_Clarkson_Avenue_LLC__nyebke-26-43650__0001.0.pdf?mcid=tGE4TAMA
Filed Pro Se
In re Scrubbees Kids Academy, LLC
Bankr. E.D. Ark. Case No. 26-13057
Chapter 11 Petition filed July 30, 2026
See
https://www.pacermonitor.com/view/Y6P6OHI/Scrubbees_Kids_Academy_LLC__arebke-26-13057__0001.0.pdf?mcid=tGE4TAMA
represented by: Sheila F. Campbell, Esq.
SHEILA F CAMPBELL LAW FIRM
Email: sheila.sfclaw@gmail.com
In re Hollywood Excavating of Florida, LLC
Bankr. N.D. Fla. Case No. 26-50156
Chapter 11 Petition filed July 30, 2026
See
https://www.pacermonitor.com/view/5XJHITI/Hollywood_Excavating_of_Florida__flnbke-26-50156__0001.0.pdf?mcid=tGE4TAMA
represented by: Byron W. Wright III, Esq.
BRUNER WRIGHT, P.A.
Email: twright@brunerwright.com
In re Scott Zimmerman Logging, Inc.
Bankr. W.D. Pa. Case No. 26-10389
Chapter 11 Petition filed July 30, 2026
See
https://www.pacermonitor.com/view/SJMASAA/Scott_Zimmerman_Logging_Inc__pawbke-26-10389__0001.0.pdf?mcid=tGE4TAMA
represented by: Christopher M. Frye, Esq.
STEIDL & STEINBERG, PC
Email: chris.frye@steidl-steinberg.com
In re Bella Mental Health Services, LLC
Bankr. M.D. Fla. Case No. 26-05807
Chapter 11 Petition filed July 30, 2026
See
https://www.pacermonitor.com/view/UQYAEYY/Bella_Mental_Health_Services_LLC__flmbke-26-05807__0001.0.pdf?mcid=tGE4TAMA
represented by: Jeffrey S. Ainsworth, Esq.
BRANSON AINSWORTH PLLC
Email: jeff@bransonlaw.com
In re Johnson Group of KY LLC
Bankr. E.D.K.Y. Case No. 26-20742
Chapter 11 Petition filed July 28, 2026
See
https://www.pacermonitor.com/view/BSIWSRQ/Johnson_Group_of_KY_LLC__kyebke-26-20742__0001.0.pdf?mcid=tGE4TAMA
represented by: Michael B. Baker, Esq.
THE BAKER FIRM, PLLC
Email: mbaker@bakerlawky.com
In re 18 Commerce Logistics, LLC
Bankr. D. N.J. Case No. 26-18471
Chapter 11 Petition filed July 28, 2026
See
https://www.pacermonitor.com/view/XDMIGGQ/18_Commerce_Logistics_LLC__njbke-26-18471__0001.0.pdf?mcid=tGE4TAMA
Filed Pro Se
In re The TRW Group, LLC
Bankr. S.D. Fla. Case No. 26-19978
Chapter 11 Petition filed July 29, 2026
See
https://www.pacermonitor.com/view/H4QIC7Y/The_TRW_Group_LLC__flsbke-26-19978__0001.0.pdf?mcid=tGE4TAMA
represented by: Brian K. McMahon, Esq.
BRIAN K. MCMAHON, PA
Email: briankmcmahon@gmail.com
In re Nor Cal Design & Construction Inc
Bankr. N.D. Calif. Case No. 26-41510
Chapter 11 Petition filed July 29, 2026
See
https://www.pacermonitor.com/view/T2JJ6XY/Nor_Cal_Design__Construction__canbke-26-41510__0001.0.pdf?mcid=tGE4TAMA
Filed Pro Se
In re MAK Woodwork NY LLC
Bankr. S.D.N.Y. Case No. 26-11780
Chapter 11 Petition filed July 29, 2026
See
https://www.pacermonitor.com/view/NCQXK3A/MAK_WOODWORK_NY_LLC__nysbke-26-11780__0001.0.pdf?mcid=tGE4TAMA
represented by: Roberto Pagan-Lopez, Esq.
PAGAN LOPEZ LAW OFFICE PLLC
Email: rpagan@paganlopezlaw.com
In re Mariscos El Navegante #2, LLC
Bankr. D. Ariz. Case No. 26-07490
Chapter 11 Petition filed July 29, 2026
See
https://www.pacermonitor.com/view/5F5YIYQ/MARISCOS_EL_NAVEGANTE_2_LLC__azbke-26-07490__0001.0.pdf?mcid=tGE4TAMA
represented by: Thomas H. Allen, Esq.
ALLEN, JONES & GILES, PLC
Email: tallen@bkfirmaz.com
In re Peter Pan Holdings LLC
Bankr. D. Wyo. Case No. 26-20351
Chapter 11 Petition filed July 29, 2026
See
https://www.pacermonitor.com/view/NLWJ6GI/Peter_Pan_Holdings_LLC__wybke-26-20351__0001.0.pdf?mcid=tGE4TAMA
Filed Pro Se
In re James A. Smith and Deborah Y. Smith
Bankr. W.D. La. Case No. 26-20389
Chapter 11 Petition filed August 3, 2026
represented by: Wade N. Kelly, Esq.
PACKARD LAPRAY
In re McLain Edward Oppy and Roxanne Uptagrafft Oppy
Bankr. M.D. Ga. Case No. 26-51349
Chapter 11 Petition filed August 3, 2026
In re Christiaan Jakobus De Jager and Tammie Marie De Jager
Bankr. S.D. Fla. Case No. 26-20304
Chapter 11 Petition filed August 3, 2026
represented by: Lucie Fleurimond, Esq.
In re Lonnev Properties LLC
Bankr. E.D. Pa. Case No. 26-13268
Chapter 11 Petition filed August 3, 2026
See
https://www.pacermonitor.com/view/RIFH6MA/LONNEV_PROPERTIES_LLC__paebke-26-13268__0001.0.pdf?mcid=tGE4TAMA
represented by: Tim Zearfoss, Esq.
LAW OFFICE OF TIMOTHY ZEARFOSS
Email: tzearfoss@aol.com
In re United Plumbing & Construction LLC
Bankr. D. Nev. Case No. 26-50772
Chapter 11 Petition filed August 3, 2026
See
https://www.pacermonitor.com/view/GIB364I/UNITED_PLUMBING__CONSTRUCTION__nvbke-26-50772__0001.0.pdf?mcid=tGE4TAMA
represented by: Kevin A. Darby, Esq.
DARBY LAW PRACTICE, LTD.
Email: kevin@darbylawpractice.com
In re Mercy Health Care, LLC
Bankr. D. Minn. Case No. 26-42577
Chapter 11 Petition filed August 3, 2026
See
https://www.pacermonitor.com/view/7TE2VIY/Mercy_Health_Care_LLC__mnbke-26-42577__0001.0.pdf?mcid=tGE4TAMA
represented by: Mary Sieling, Esq.
SIELING LAW, PLLC
Email: mary@sielinglaw.com
In re AA Sims Group LLC
Bankr. N.D. Ga. Case No. 26-60079
Chapter 11 Petition filed July 31, 2026
See
https://www.pacermonitor.com/view/HPCMFDQ/AA_Sims_Group_LLC__ganbke-26-60079__0001.0.pdf?mcid=tGE4TAMA
Filed Pro Se
In re B & G Total House Care, L.L.C.
Bankr. E.D. Mich. Case No. 26-31771
Chapter 11 Petition filed August 3, 2026
See
https://www.pacermonitor.com/view/FIMMYVQ/B__G_Total_House_Care_LLC__miebke-26-31771__0001.0.pdf?mcid=tGE4TAMA
represented by: Peter T. Mooney, Esq.
SIMEN, FIGURA & PARKER, PLC
E-mail: pmooney@sfplaw.com
In re North Houston Birth Center L.L.C.
Bankr. S.D. Tex. Case No. 26-35646
Chapter 11 Petition filed August 3, 2026
See
https://www.pacermonitor.com/view/BJHXKTY/North_Houston_Birth_Center_LLC__txsbke-26-35646__0001.0.pdf?mcid=tGE4TAMA
represented by: Elyse M. Farrow, Esq.
HASELDEN FARROW, PLLC
Email: efarrow@HaseldenFarrow.com
In re HB Developer Inc.
Bankr. E.D. Tex. Case No. 26-42626
Chapter 11 Petition filed July 31, 2026
See
https://www.pacermonitor.com/view/SU2P6DI/HB_Developer_Inc__txebke-26-42626__0001.0.pdf?mcid=tGE4TAMA
represented by: Manolo Santiago, Esq.
TITTLE SANTIAGO, PLLC
Email: msantiago@tittlelawpllc.com
In re Second Chance CA LLC
Bankr. C.D. Calif. Case No. 26-11683
Chapter 11 Petition filed August 3, 2026
See
https://www.pacermonitor.com/view/GGZXM3A/Second_Chance_CA_LLC__cacbke-26-11683__0001.0.pdf?mcid=tGE4TAMA
Filed Pro Se
In re The Flippin Bowmans, LLC
Bankr. S.D. Ga. Case No. 26-10658
Chapter 11 Petition filed August 1, 2026
See
https://www.pacermonitor.com/view/N75PULI/Corey_Allen_Bowman__gasbke-26-10658__0001.0.pdf?mcid=tGE4TAMA
represented by: Schuyler Elliott, Esq.
SCHUYLER ELLIOTT & ASSOCIATES, INC.
Email: attorneyschuyler@gmail.com
In re Home Stone Living LLC
Bankr. D. N.J. Case No. 26-18794
Chapter 11 Petition filed August 3, 2026
See
https://www.pacermonitor.com/view/POCZYIA/Home_Stone_Living_LLC__njbke-26-18794__0001.0.pdf?mcid=tGE4TAMA
Filed Pro Se
In re T&T Ventures, LLC
Bankr. D. Neb. Case No. 26-80933
Chapter 11 Petition filed August 3, 2026
See
https://www.pacermonitor.com/view/ZEPESOA/TTVentures_LLC__nebke-26-80933__0001.0.pdf?mcid=tGE4TAMA
represented by: Donald L. Swanson, Esq.
KOLEY JESSEN P.C., L.L.O.
Email: Don.Swanson@koleyjessen.com
In re Fleck Real Estate Holding Group, LLC
Bankr. N.D. Ga. Case No. 26-60289
Chapter 11 Petition filed August 3, 2026
See
https://www.pacermonitor.com/view/TQYUXTA/Fleck_Real_Estate_Holding_Group__ganbke-26-60289__0001.0.pdf?mcid=tGE4TAMA
Filed Pro Se
In re Big J, LLC
Bankr. W.D. La. Case No. 26-20390
Chapter 11 Petition filed August 3, 2026
See
https://www.pacermonitor.com/view/OS3ZWRQ/Big_J_LLC__lawbke-26-20390__0001.0.pdf?mcid=tGE4TAMA
represented by: Wade N. Kelly, Esq.
PACKARD LAPRAY
Email: staff@packardlaw.com
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