SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 24, 2011
California Coastal Communities, Inc.
(Exact name of registrant as specified in its charter)
Registrants telephone number, including area code (949) 250-7700
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Item 1.03 Bankruptcy or Receivership.
Item 7.01 Regulation FD Disclosure.
On February 24, 2011, the United States Bankruptcy Court for the Central District of California confirmed the Registrants plan of reorganization with respect to its Chapter 11 bankruptcy cases.
A copy of the press release dated February 24, 2011 announcing the plan confirmation and the Registrants expectation that it will exit bankruptcy by March 1, 2011 is attached hereto as Exhibit 99.1.
Item 8.01 Other Events,
Upon exiting bankruptcy, currently expected to occur by March 1, 2011, the Registrant will cease to be publicly held, all outstanding shares of its common stock will be cancelled and will no longer trade in the over-the-counter-market, and 100% of the new equity in the Registrant will be privately held by the Registrants lenders.
This Form 8-K contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. The most significant among these risks and uncertainties are: (i) the ability of the Registrant to continue as a going concern; (ii) the Registrants ability to obtain bankruptcy court approval with respect to the plan of reorganization and other motions in the Chapter 11 cases; (iii) risks associated with third party motions in the Chapter 11 cases, which may interfere with the Registrants ability to consummate the plan of reorganization; (iv) the ability to execute the Registrants business and restructuring plan; (v) the Registrants ability to maintain contracts that are critical to its operation and to retain key executives, managers and employees. The cautionary statements provided above are being made pursuant to the provisions of the Private Securities Litigation Reform Act of 1995 (the Act) and with the intention of obtaining the benefits of the safe harbor provisions of the Act for any such forward-looking information. Additional risks that may affect the Registrants future performance are detailed in the Registrants filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q.
Item 9.01. Financial Statements and Exhibits.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.