Involved in cholate catabolism (PubMed:23024343, PubMed:24244004). Catalyzes the transformation of cholate to cholyl-CoA, thus initiating degradation of the C5 cholate side chain (PubMed:23024343, PubMed:24244004). Can also catalyze the ATP-dependent formation of CoA thioesters of deoxycholate and chenodeoxycholate (PubMed:23024343). ATP + cholate + CoA = AMP + choloyl-CoA + diphosphate ATP + CoA + deoxycholate = AMP + deoxycholoyl-CoA + diphosphate ATP + chenodeoxycholate + CoA = AMP + chenodeoxycholoyl-CoA + diphosphate kcat is 2.4 sec(-1) with cholate as substrate. Steroid metabolism. Up-regulated on cholate. Belongs to the ATP-dependent AMP-binding enzyme family.