Official Form 206Sum

Summary of Assets and Liabilities for Non-Individuals 12/15

Check if this is an 

amended filing

þ

 Fill in this information to identify the case:

Debtor

United States Bankruptcy Court for the:

Case number

 (if known)

24-80035

NORTHERN DISTRICT OF TEXAS

COTTONWOOD FINANCIAL LTD.

 Part 1: Summary of Assets

1.

1a.

Total personal property:

Total of all property:

Copy line 88 from Schedule A/B . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Real property:

Schedule A/B: Assets-Real and Personal Property (Official Form 206A/B)

1b.

1c.

Copy line 91A from Schedule A/B . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Copy line 92 from Schedule A/B . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

NOT APPLICABLE

$24,495.88

$24,495.88

 Part 2: Summary of Liabilities

2. Schedule D: Creditors Who Have Claims Secured by Property (Official Form 206D)

Copy the total dollar amount listed in Column A, Amount of claim, from line 3 of Schedule D . . . . . . . . .

3.

3a.

Total amount of claims of nonpriority amount of unsecured claims:

Copy the total claims from Part 1 from line 5a of Schedule E/F . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Total claim amounts of priority unsecured claims:

Schedule E/F: Creditors Who Have Unsecured Claims (Official Form 206EF)

3b.

Copy the total of the amount of claims from Part 2 from line 5b of Schedule E/F . . . . . . . . . . . . . .

4. Total liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 

Lines 2 + 3a + 3b

+

$26,743,881.44

$1,014.99

$38,162,528.33

$64,907,424.76

Official Form 206Sum Page 1 of 1

Case 24-80035-swe11 Doc 197 Filed 04/03/24 Entered 04/03/24 22:35:33 Desc

Main Document Page 1 of 5
Official Form 206E/F

Schedule E/F: Creditors Who Have Unsecured Claims 12/15

Be as complete and accurate as possible. Use Part 1 for creditors with PRIORITY unsecured claims and Part 2 for creditors with NONPRIORITY 

unsecured claims. List the other party to any executory contracts or unexpired leases that could result in a claim. Also list executory contracts 

on Schedule A/B: Assets - Real and Personal Property (Official Form 206A/B) and on Schedule G: Executory Contracts and Unexpired Leases

(Official Form 206G). Number the entries in Parts 1 and 2 in the boxes on the left. If more space is needed for Part 1 or Part 2, fill out and attach 

the Additional Page of that Part included in this form.

Check if this is an 

amended filing

þ

 Fill in this information to identify the case:

Debtor

United States Bankruptcy Court for the:

Case number

 (if known)

24-80035

NORTHERN DISTRICT OF TEXAS

COTTONWOOD FINANCIAL LTD.

 Part 1: List All Creditors with PRIORITY Unsecured Claims

1. Do any creditors have priority unsecured claims? (See 11 U.S.C. § 507).

No. Go to Part 2.

þ Yes. Go to line 2.

 ̈

List in alphabetical order all creditors who have unsecured claims that are entitled to priority in whole or in part. If the debtor has more than 

3 creditors with priority unsecured claims, fill out and attach the Additional Page of Part 1. 

2.

Total claim Priority amount

ADDITION

2.1 Priority creditor’s name and mailing address

DEPARTMENT OF THE TREASURY

INTERNAL REVENUE SERVICE

1973 NORTH RULON WHITE BLVD

OGDEN, UT 84201-0062

Date or dates debt was incurred

2/23/2024

Last 4 digits of account number: 

Specify Code subsection of PRIORITY 

unsecured claim: 11 U.S.C. § 507(a) (8)

As of the petition filing date, the claim is:

Check all that apply.

þ Contingent

 ̈ Unliquidated

 ̈ Disputed

Basis for the claim:

EMPLOYER SHARED RESPONSIBILITY 

PAYMENT - TAX YEAR 2021 

(COTTONWOOD FINANCIAL AUSTIN CSO 

LLC)

Is the claim subject to offset?

þ No

 ̈ Yes

$676.66 $676.66

ADDITION

2.2 Priority creditor’s name and mailing address

DEPARTMENT OF THE TREASURY

INTERNAL REVENUE SERVICE

1973 NORTH RULON WHITE BLVD

OGDEN, UT 84201-0062

Date or dates debt was incurred

2/23/2024

Last 4 digits of account number: 

Specify Code subsection of PRIORITY 

unsecured claim: 11 U.S.C. § 507(a) (8)

As of the petition filing date, the claim is:

Check all that apply.

þ Contingent

 ̈ Unliquidated

 ̈ Disputed

Basis for the claim:

EMPLOYER SHARED RESPONSIBILITY 

PAYMENT - TAX YEAR 2021 

(COTTONWOOD FINANCIAL ILLINOIS 

LLC)

Is the claim subject to offset?

þ No

 ̈ Yes

$338.33 $338.33

 Part 2: List All Creditors with NONPRIORITY Unsecured Claims

Do any creditors have nonpriority unsecured claims? (See 11 U.S.C. § 507).

No.

þ Yes.

 ̈

Official Form 206E/F Schedule E/F: Creditors Who Have Unsecured Claims Page 1 of 3

Case 24-80035-swe11 Doc 197 Filed 04/03/24 Entered 04/03/24 22:35:33 Desc

Main Document Page 2 of 5
Debtor COTTONWOOD FINANCIAL LTD. Case number (if known) 24-80035

(Name)

List in alphabetical order all of the creditors with nonpriority unsecured claims. If the debtor has more than 6 creditors with nonpriority 

unsecured claims, fill out and attach the Additional Page of Part 2.

3.

Amount of claim

Nonpriority creditor’s name and mailing address

BOMANI BUSINESS LENDING, LLC

C/O WICK PHILLIPS

ATTN: JASON RUDD & CATHERINE CURTIS

3131 MCKINNEY AVENUE, SUITE 500

DALLAS, TX 75204

Date or dates debt was incurred

Last 4 digits of account number: 

As of the petition filing date, the claim is:

Check all that apply.

 ̈ Contingent

 ̈ Unliquidated

 ̈ Disputed

Basis for the claim:

SUBORDINATED NOTE

Is the claim subject to offset?

þ No

 ̈ Yes

3.1 $38,162,528.33

Nonpriority creditor’s name and mailing address

NAME AND ADDRESS REDACTED

Date or dates debt was incurred

Last 4 digits of account number: 

As of the petition filing date, the claim is:

Check all that apply.

þ Contingent

þ Unliquidated

þ Disputed

Basis for the claim:

CONSUMER CLAIM, US DISTRICT COURT OF 

COLUMBIA - CASE NO. 1:23-CV-00571

Is the claim subject to offset?

þ No

 ̈ Yes

3.2 UNKNOWN

Nonpriority creditor’s name and mailing address

NAME AND ADDRESS REDACTED

Date or dates debt was incurred

Last 4 digits of account number: 

As of the petition filing date, the claim is:

Check all that apply.

þ Contingent

þ Unliquidated

þ Disputed

Basis for the claim:

CONSUMER CLAIM, WISCONSIN WAUPACA 

COUNTY CIRCUIT COURT - CASE NO. 

2022CV000278

Is the claim subject to offset?

þ No

 ̈ Yes

3.3 UNKNOWN

Nonpriority creditor’s name and mailing address

NAME AND ADDRESS REDACTED

Date or dates debt was incurred

Last 4 digits of account number: 

As of the petition filing date, the claim is:

Check all that apply.

þ Contingent

þ Unliquidated

þ Disputed

Basis for the claim:

CONSUMER CLAIM, WISCONSIN MILWAUKEE 

COUNTY CIRCUIT COURT - CASE NO. 

19-SC-49193

Is the claim subject to offset?

þ No

 ̈ Yes

3.4 UNKNOWN

Official Form 206E/F Schedule E/F: Creditors Who Have Unsecured Claims Page 2 of 3

Case 24-80035-swe11 Doc 197 Filed 04/03/24 Entered 04/03/24 22:35:33 Desc

Main Document Page 3 of 5
Debtor COTTONWOOD FINANCIAL LTD. Case number (if known) 24-80035

(Name)

 Part 4: Total Amounts of the Priority and Nonpriority Unsecured Claims

5. Add the amounts of priority and nonpriority unsecured claims. 

5a.

 Total of claim amounts

Total claims from Part 1 5a.

5b. Total claims from Part 2 5b. +

5c. Total of Parts 1 and 2

Lines 5a + 5b = 5c.

5c.

$38,162,528.33

$1,014.99

$38,163,543.32

Official Form 206E/F Schedule E/F: Creditors Who Have Unsecured Claims Page 3 of 3

Case 24-80035-swe11 Doc 197 Filed 04/03/24 Entered 04/03/24 22:35:33 Desc

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Official Form 202

Declaration Under Penalty of Perjury for Non-Individual Debtors 12/15

An individual who is authorized to act on behalf of a non-individual debtor, such as a corporation or partnership, must sign and submit this 

form for the schedules of assets and liabilities, any other document that requires a declaration that is not included in the document, and any 

amendments of those documents. This form must state the individual’s position or relationship to the debtor, the identity of the document, and 

the date. Bankruptcy Rules 1008 and 9011.

WARNING -- Bankruptcy fraud is a serious crime. Making a false statement, concealing property, or obtaining money or property by fraud in 

connection with a bankruptcy case can result in fines up to $500,000 or imprisonment for up to 20 years, or both. 18 U.S.C. §§ 152, 1341, 1519, 

and 3571. 

 Fill in this information to identify the case:

Debtor

United States Bankruptcy Court for the:

Case number

 (if known)

24-80035

NORTHERN DISTRICT OF TEXAS

COTTONWOOD FINANCIAL LTD.

Delcaration and signature

I am the president, another officer, or an authorized agent of the corporation; a member or an authorized agent of the partnership; or

another individual serving as a representative of the debtor in this case.

I have examined the information in the documents checked below and I have a reasonable belief that the information is true and correct: 

 ̈ Schedule A/B: Assets-Real and Personal Property (Official Form 206A/B)

 ̈ Schedule D: Creditors Who Have Claims Secured by Property (Official Form 206D)

þ Schedule E/F: Creditors Who Have Unsecured Claims (Official Form 206E/F)

 ̈ Schedule G: Executory Contracts and Unexpired Leases (Official Form 206G)

 ̈ Schedule H: Codebtors (Official Form 206H)

þ Summary of Assets and Liabilities for Non-Individuals (Official Form 206Sum)

þ Amended Schedule

 ̈ Chapter 11 or Chapter 9 Cases: List of Creditors Who Have the 20 Largest Unsecured Claims and Are Not Insiders (Official Form 204)

 ̈ Other document that requires a declaration

I declare under penalty of perjury that the foregoing is true and correct.

Executed on 04/03/2024 /s/ KAREN G. NICOLAOU

MM / DD / YYYY Signature of individual signing on behalf of debtor

KAREN G. NICOLAOU

Printed name

CHIEF RESTRUCTURING OFFICER

Position or relationship to debtor 

û

Official Form 202 Declaration Under Penalty of Perjury for Non-Individual Debtors 

Case 24-80035-swe11 Doc 197 Filed 04/03/24 Entered 04/03/24 22:35:33 Desc

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