Credit Management Association, Inc., a nonprofit credit-services organization with roots dating to 1883, filed Chapter 11 on October 31, 2018 after operating losses and a defined-benefit pension burden strained the business. The petition listed assets and liabilities each in the $1 million to $10 million range, while the first-day declaration identified roughly $504,000 of cash, $1.2 million of North Las Vegas real estate, $358,000 of receivables, about $810,000 owed to Valley Bank, and more than $2.5 million of unfunded pension liability; the debtor also had about 20 employees and more than 1,000 parties on its creditor list. Clark Hill served as reorganization counsel, Macias Gini & O'Connell as accounting professionals, and KCC as claims and noticing agent source filing source filing.

The court entered the confirmation order for CMA's First Amended Plan on August 2, 2019, moving the case from operating protection to plan implementation source filing. The plan left Valley Bank unimpaired and already paid in full, treated PBGC's $2.96 million claim as impaired, paid administrative claims in cash on the effective date, provided 19 quarterly payments for tax and priority claims, and gave general unsecured creditors a pro rata share of 10% of net real-property sale proceeds plus 100% of life-insurance-policy proceeds source filing. CMA later noticed September 1, 2019 as the effective date, with October 1 deadlines for administrative and rejected-contract claims and a November 29 deadline for claim objections source filing.