Beverly Hills Bancorp Inc. filed a voluntary petition for reorganization under Chapter 11 in the US Bankruptcy Court for the District of Delaware on April 15, 2014. The debtor listed its assets of $16.83 million and liabilities of $36.08 million. The largest unsecured creditors include Wilmington Trust Company, HoldCo Opportunities Fund, L.P., a fund of Holdco Asset Management, LP, U.S. Capital Funding VI Ltd. and U.S. Capital Funding V Ltd., funds of StoneCastle Partners, LLC.

The debtor is represented by Robert S. Brady and Joseph M. Barry of Young, Conaway, Stargatt & Taylor, LLP and Eric E. Sagerman of Winston & Strawn LLP as its legal counsels. Development Specialists, Inc. acted as debtor's chief restructuring officer.