MOM CA Investco’s Chapter 11 case is no longer pending: the court dismissed the jointly administered cases on August 18, 2025, ending the court-supervised restructuring without a confirmed plan and terminating the operative DIP-financing and cash-collateral authority. The lead debtor had commenced Chapter 11 on February 28, 2025 through its voluntary petitionDkt. 1, with affiliated property-owning entities following in March. The filing arose from a management and ownership impasse between principals Mohammad Honarkar and Mahender Makhijani, compounded by rising borrowing costs, delinquent property obligations and imminent foreclosure activity across the Southern California real estate portfolio. The amended first-day declarationDkt. 152 described approximately $194 million of first-lien debt, more than $92.5 million of Cantor loans and roughly $29.5 million owed to Coastline, against management’s approximately $382 million undistressed valuation of the underlying assets.
The restructuring initially sought to stabilize the portfolio under neutral control rather than pursue an immediate enterprise-wide disposition. The debtors installed Robbin Itkin as independent manager with ultimate decision-making authority and Mark Shinderman as chief restructuring officer, while seeking cash-collateral access to fund property operations and preserve value. Their first-day declarationDkt. 11 framed the intended path as an asset-by-asset assessment leading to a plan of reorganization that could include selected property sales and development or DIP financing. In practice, the cases proceeded through repeated interim cash-collateral extensions and a secured DIP term loan, which was amended and increased as the debtors continued operating under short-dated budgets.
By early August 2025, the debtors were relying on a second amended DIP order and a two-week operating budget through mid-month; dismissal followed less than two weeks later. The record therefore reflects a liquidity-supported stabilization process that ended in dismissal, not confirmation or an in-court sale culmination. No further bankruptcy hearing or restructuring milestone is scheduled in the supplied record, and the financing record does not disclose whether the DIP loan was repaid in full or whether any balance remained at dismissal.
