Ciena Capital LLC files for Chapter 11

Ciena Capital LLC filed for Chapter 11 bankruptcy protection today at the United States Bankruptcy Court for the Southern District of NY.  The loan servicer's petition lists assets and liabilities as between $100-$500 million in liabilities.

Creative Loafing, Inc. files for Chapter 11

Newspaper company, Creative Loafing, Inc., filed for chapter 11 bankruptcy protection today at the United States Bankruptcy Court for the Middle District of FL.  The Tampa debtor's petition lists between $10-$50 million in assets and liabilities.

Erie County Plastics Corporation files for Chapter 11

Corry PA. based, Erie County Plastics Corporation, filed for chapter 11 bankruptcy protection this morning at the United States Bankruptcy Court for the Western District of Pennsylvania.  The debtor's petition lists $10-$50 million in assets and liabilities.  Top unsecured creditors include Bank One Capital Partners II, Dow Chemical and others.  Click here to download the petition, including the list of top 20 unsecured creditors.

Washingon Mutual, Inc. files for Chapter 11

Washington Mutual, Inc. and WMI Investment Corp. filed petitions for chapter 11 bankruptcy protection on Friday at the United States Bankruptcy Court in Wilmington, DE.  Washington Mutual, Inc. owns 100% of the equity interests in WMI Investment Corp.

The petition for Washington Mutual, Inc. lists assets of almost $33 billion and debts of more than $8 billion.  However, the petition indicates that a "significant" portion of the debtor's assets are held on account at Washington Mutual Bank and Washington Mutual Bank fsb. 

The petition lists TPG Capital, L.P. as an entity that directly or indirectly owns, controls, or holds, with power to vote, 5% or more of the voting securities of Washington Mutual, Inc.

10/10:  The debtor amended it's List of Top Unsecured Creditors

10/11:  According to the debtor's application to employ- Weil Gotshal will be charging $650-$950 per hour for the work of members and counsel, $355-$595 for associates and $155-$290 for paraprofessionals.