Cred Inc. is in the post-confirmation liquidation-trust phase, with the active docket now centered on claims administration rather than operating restructuring or sale activity. The Trust’s most recent material relief was a sixth extension of the claims-objection deadline through April 15, 2027, entered after no timely responses were filed to the requested extension, as reflected in the Certificate of No ObjectionDkt. 1424 and the Sixth Claims-Objection Deadline OrderDkt. 1425. The May 12, 2026 omnibus hearing was then cancelled because the only scheduled matter had been resolved by entry of that order, according to the Notice of Cancelled HearingDkt. 1427.
The case began on November 7, 2020, when Cred Inc. and affiliates filed chapter 11 petitions in Delaware after a crypto-lending business model built around customer transfers of digital assets became stressed by market volatility, asset shortfalls, and alleged misconduct affecting recoveries. The first-day declaration described a platform serving retail and institutional customers, approximately $140 million of customer deposit liabilities, $2.6 million of unsecured convertible notes, and roughly $1 million of ordinary-course trade debt; it also tied the filing to losses from alleged cryptocurrency misappropriation, a fraudulent investment scheme, adverse bitcoin-price movements, partner disruption, and failed capital-raising efforts in the weeks before filing through the First Day DeclarationDkt. 12. A separate financial-advisor declaration emphasized the same balance-sheet pressure from customer deposit liabilities and cryptocurrency price movements, along with a reported asset hack and protective measures including asset freezes, law-enforcement cooperation, and recovery litigation through the .
The restructuring path resolved into liquidation. Cred filed a modified first amended combined plan and disclosure statement in March 2021 that set out a debtor-sponsored liquidation framework for seven classes, and the Court confirmed that plan the next day through the Amended Chapter 11 Plan of LiquidationDkt. 619 and Confirmation OrderDkt. 629. Post-confirmation activity has continued through the Cred Inc. Liquidation Trust, including estate-recovery litigation such as the 2022 adversary complaint against Earnity-related defendants and Domenic Carosa, filed by the Trust to pursue alleged fraudulent-transfer and other claims in the Earnity Adversary ComplaintDkt. 1. The present posture is therefore a mature liquidating case: plan confirmation is behind the estate, recoveries and claims reconciliation remain the operative workstreams, and the next dated claims milestone in the record is the extended April 15, 2027 objection deadline.
