'Titanic' Effects Firm Enters Ch. 11, Plans Sale

Law360, Wilmington (September 11, 2012, 6:07 PM EDT) -- Digital Domain Media Group Inc., the Oscar-winning creator of digital effects for movies such as “Titanic,” sought Chapter 11 protection in Delaware on Tuesday as part of a restructuring plan that envisions a speedy sale and has drawn a $15 million stalking horse bid from private investment firm Searchlight Capital Partners LP.

DDMG and 13 affiliates filed for bankruptcy on the heels of a liquidity crisis that endangered its ongoing projects and forced the company to seek a buyer in order to ensure its survival, and...
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