Tech Co. TLO Enters Ch. 11 After Founder's Death

Law360, Chicago (May 10, 2013, 3:31 PM EDT) -- TLO LLC, provider of data systems for background checks and other online investigations, filed for bankruptcy Thursday in Florida, saying the company has suffered financially since the recent death of its founder, data-mining trailblazer Hank Asher.

The Boca Raton, Fla.-based company, which said there have been no job losses as a result of the filing, listed $46.6 million in assets against nearly $110 million of debt in its Chapter 11 petition.

TLO said in a statement that Asher’s death in January made it necessary to implement...
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