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CashCall commenced Chapter 11 in the Southern District of California, opening a court-supervised restructuring for the subprime lender. Law360 reported that the company entered bankruptcy with more than $400 million of debt. The voluntary petition lists estimated assets of $1 million to $10 million, estimated liabilities of $100 million to $500 million and 1–49 creditors; CashCall also indicated that funds should be available for distribution to unsecured creditors.
The filing formally starts the restructuring timeline and frames the immediate recoveries issue: reported debt exceeds the petition’s asset estimate by a wide margin. Professionals should now track the requested DIP financing already noted in the scratch pad, first-day relief and the development of a plan or sale strategy.
CashCall, Inc. commenced Chapter 11 proceedings in the Central District of California (Case No. 26-03102) through its voluntary petition. The debtor’s first-day declaration describes large litigation judgments and approximately $245 million of related obligations; DailyDAC reported that CashCall filed within days of losing court judgments worth hundreds of millions of dollars.
CashCall sought immediate liquidity through a $3.995 million DIP facility from Absolutely Zero Corporation and authority to use cash collateral in its DIP financing motion. The case therefore begins as a litigation-driven restructuring with limited proposed financing, putting the treatment and collectability of judgment-related claims at the center of the early Chapter 11 process.
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