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Following the March 18 hearing, the court approved Cash Cloud’s rejection of its Provisional Posting Procurement, Risk Management and Support Services Agreement with Bankline Corporation under section 365(a). The order approving the Bankline agreement rejection makes rejection effective January 31, 2026 and finds it a sound exercise of business judgment in the estate’s and creditors’ interests.
The ruling terminates an operational services relationship that covered bank procurement, risk management, compliance support, and software integration for Coin Cloud’s digital-currency-machine operations. It fixes the estate’s rejection posture and shifts any resulting counterparty claim into the bankruptcy claims process rather than allowing the agreement to continue generating estate expense.
The court entered a $9,190 default judgment, plus costs and statutory interest, for Cash Cloud against Abhishek, Inc. in adversary proceeding No. 25-01030-mkn after the February 17 hearing. The default judgment order also disallows any Abhishek claim under Bankruptcy Code section 502(d).
The result converts a pending avoidance-action recovery into an enforceable judgment while removing the defendant’s ability to share in estate distributions unless the section 502(d) disallowance is cured. It is a concrete recovery and claims-resolution outcome from the estate’s streamlined avoidance-litigation program, rather than merely another scheduled hearing.
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