AMS Files For Ch. 11, Requests $75M DIP Loan

Law360, New York (January 2, 2007, 12:00 AM EST) -- Book marketing and publishing company Advanced Marketing Services Inc., which filed for bankruptcy Friday, requested court approval of its proposed $75 million debtor-in-possession loan Wednesday.

In its bankruptcy court filings, AMS and two of its subsidiaries, Publishers Group Inc. and Publishers Group West Inc., requested Chapter 11 protection. The company listed assets and liabilities of over $100 million each.

The San Diego, Calif.-based company’s finances have suffered in recent years due to an accounting scandal that came to light several years ago.

Two investigations into the...
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