May 24, 2017 3:01 PM ET

Company Overview of CACH, LLC

Company Overview

CACH, LLC operates as a subsidiary of SquareTwo Financial Corporation. On March 19, 2017, CACH, LLC filed a voluntary petition for reorganization under Chapter 11 in the U.S. Bankruptcy Court for the Southern District of New York. It is in joint administration with SquareTwo Financial Services Corporation

4340 South Monaco Street

Denver, CO 80237

United States

Phone:

303-296-3345

Key Executives for CACH, LLC

CACH, LLC does not have any Key Executives recorded.

CACH, LLC Key Developments

Final DIP Financing Approved for SquareTwo Financial Services Corporation

The US Bankruptcy Court ordered to obtain the post-petition financing to SquareTwo Financial Services Corporation on interim basis on April 27, 2017. As per the order, the debtor is authorized to obtain super priority revolving credit facility of total $58.5 million from group of lenders at an interest rate of LIBOR plus 7.75%, or higher of reference rate loan of 3% or Federal Funds Rate plus 0.5% or LIBOR plus 1% or the rate last quoted by The Wall Street Journal as the “Prime Rate” in the United States, plus 6.75%. In the event of default, the interest rate would be increased by 2%. The lenders include Cerberus NJ Credit Opportunities Fund, L.P., Cerberus ASRS Holdings LLC, Cerberus ICQ Levered Loan Opportunities, Fund, L.P., Cerberus KRS Levered Loan Opportunities Fund, L.P., Cerberus Levered Loan Opportunities Fund III, L.P., Cerberus PSERS Levered Loan Opportunities Fund, L.P., Fortress Credit Opportunities III CLO LP, Fortress Credit Opportunities V CLO Limited, Fortress Credit Opportunities VII CLO Limited. Cerberus Business Finance, LLC also acted as administrative agent and collateral agent. The debtor will pay 0.5% of the unused principal amount of the DIP Facility as unused line fee and a non-refundable closing fee equal to 0.75% of the principal amount of the DIP Facility and a non-refundable exit fee equal to 1.0% of the principal amount of the DIP Facility and $0.03 million quarterly loan servicing fee. The DIP facility will mature earliest of 35 days following the Petition Date if the Final Order is not entered, 6 months after the date of entry of the Interim Order, the date of substantial consummation of any plan of reorganization in these cases or the date of a sale of substantially all assets of the debtors. Adequate protection would be provided to the DIP lenders in the form of super-priority administrative expense claims which is subject to a carve-out of $1.1 million towards unpaid professional fees / administrative expenses and first priority lien upon and security interest in the debtor’s collateral. The DIP facility will be used as per approved budget.

Interim DIP Financing Approved for SquareTwo Financial Services Corporation

The US Bankruptcy Court ordered to obtain the post-petition financing to SquareTwo Financial Services Corporation on interim basis on March 27, 2017. As per the order, the debtor is authorized to obtain super priority revolving credit facility of $10 million out of total $58.5 million from group of lenders at an interest rate of LIBOR plus 7.75%, or higher of reference rate loan of 3% or Federal Funds Rate plus 0.5% or LIBOR plus 1% or the rate last quoted by The Wall Street Journal as the “Prime Rate” in the United States, plus 6.75%. In the event of default, the interest rate would be increased by 2%. The lenders include Cerberus NJ Credit Opportunities Fund, L.P., Cerberus ASRS Holdings LLC, Cerberus ICQ Levered Loan Opportunities, Fund, L.P., Cerberus KRS Levered Loan Opportunities Fund, L.P., Cerberus Levered Loan Opportunities Fund III, L.P., Cerberus PSERS Levered Loan Opportunities Fund, L.P., Fortress Credit Opportunities III CLO LP, Fortress Credit Opportunities V CLO Limited, Fortress Credit Opportunities VII CLO Limited. Cerberus Business Finance, LLC also acted as administrative agent and collateral agent. The debtor will pay 0.5% of the unused principal amount of the DIP Facility as unused line fee and a non-refundable closing fee equal to 0.75% of the principal amount of the DIP Facility and a non-refundable exit fee equal to 1.0% of the principal amount of the DIP Facility and $0.03 million quarterly loan servicing fee. The DIP facility will mature earliest of 35 days following the Petition Date if the Final Order is not entered, 6 months after the date of entry of the Interim Order, the date of substantial consummation of any plan of reorganization in these cases or the date of a sale of substantially all assets of the debtors. Adequate protection would be provided to the DIP lenders in the form of super-priority administrative expense claims which is subject to a carve-out of $1 million towards unpaid professional fees / administrative expenses and first priority lien upon and security interest in the debtor’s collateral. The DIP facility will be used as per approved budget. The final hearing shall be heard on April 13, 2017.

Pre-Packaged Reorganization Plan and Disclosure Statement Filed by SquareTwo Financial Services Corporation

SquareTwo Financial Services Corporation filed a pre packaged plan of reorganization with related disclosure statement in the US Bankruptcy Court on March 19, 2017. As per the plan filed, the administrative claims, US Trustee Fees and Priority Tax Claims shall be paid in full in cash. The DIP claims shall be indefeasibly paid in full in cash from the proceeds of the closing purchase price. Allowed priority non-tax claim shall receive cash to be paid by Wind Down Co in an amount equal to such allowed claim; provided, however, that any priority non-tax claim that is a Canadian claim or an assumed U.S. liability shall be satisfied by the applicable acquired debtor. Debtor estimates allowed priority non-tax claim in the amount of $0.59 million. Allowed other secured claim shall receive cash to be paid by Wind Down Co in an amount equal to such allowed claim; provided, however, that any other secured claim that is a Canadian claim or an assumed U.S. liability shall be satisfied by the applicable acquired debtor. Debtor estimates allowed other secured claim in the amount of $0.18 million. First lien lender shall receive subject to the terms of the plan, in full and final satisfaction, settlement, release and discharge of the first lien lender claim, payment in full in cash from Wind Down Co of the first lien lender distribution, to be distributed consistent with the first lien financing agreement. Debtor estimates allowed First lien lender claims in the amount of $105 million with estimated recovery of 99.5%. 1.25 Lien lender claim shall receive, subject to the terms of the plan, in full and final satisfaction, release and discharge of its 1.25 lien lender claim, payment in cash from Wind Down Co of its pro rata share of the 1.25 lien lender distribution. Debtor estimates allowed 1.25 Lien lender claims in the amount of $16.03 million with estimated recovery of 99.5%. 1.5 Lien lender claim shall receive, subject to the terms of the plan, in full and final satisfaction, release and discharge of its 1.5 lien lender claim, payment in cash from Wind Down Co of its pro rata share of the 1.5 lien lender distribution. Debtor estimates allowed 1.5 Lien lender claims in the amount of $191.52 million with estimated recovery of 45%. Second Lien Lender Claims in the amount of $19.08 million shall not receive or retain any distribution or Lien under the Plan on account of such Second Lien Lender Claims. U.S. General Unsecured Claims in the amount of $4.35 million shall not receive or retain any distribution under the Plan on account of such U.S. General Unsecured Claims. Canadian General Unsecured Claim in the amount of $0.74 million shall receive, at the election of the applicable Acquired Debtor, such treatment that; leaves unaltered the legal, equitable, or contractual rights to which the holder of such Allowed Canadian General Unsecured Claim is entitled; or otherwise leaves such Allowed Canadian General Unsecured Claims unimpaired pursuant to section 1124 of the Bankruptcy Code; provided, however, that Canadian General Unsecured Claims incurred by an Acquired Debtor in the ordinary course of business may be paid in the ordinary course of business in accordance with the terms and conditions of any agreements relating thereto, in the discretion of the applicable Acquired Debtor, without further notice to or order of the Bankruptcy Court. Existing U.S. Interests shall be discharged, cancelled, released and extinguished, and holders thereof shall not receive or retain any distribution under the Plan on account of such Existing U.S. Interests. Existing Canadian Interest shall receive such treatment that will render such Existing Canadian Interest unimpaired pursuant to section 1124 of the Bankruptcy Code. The plan will be funded though a new money investment from Resurgent Holdings LLC and Canadian recognition proceedings, in exchange for which the Plan Investor would receive all of the equity in Reorganized CACH, Reorganized CACV of Colorado, and Reorganized SquareTwo Financial Canada Corporation the Acquired Debtors, and the orderly wind down of the Astrum Financial, LLC; Autus, LLC; CACV of New Jersey, LLC; CA Internet Marketing, LLC; Collect Air, LLC; Collect America of Canada, LLC; Orsa, LLC; ReFinance America, Ltd.; Healthcare Funding Solutions, LLC; Candeo, LLC; SquareTwo Financial Services Corporation and SquareTwo Financial Corporation the Dissolving Debtors.

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