Print Woes Drive Truvo Into Ch. 11 With $1.9B Debt

Law360, New York (July 1, 2010, 12:41 PM EDT) -- Truvo USA LLC, publisher of print and online directories, filed for protection from creditors Thursday while it restructures $1.9 billion in debt and veers away from its ruinous print business.

With the support of senior lenders, Truvo USA and four affiliates filed Chapter 11 petitions in the U.S. Bankruptcy Court for the Southern District of New York, with a plan in the works to recapitalize by transferring Truvo USA to senior lenders and issuing some €600 million ($748 million) in new debt.

The petition cites assets...
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