Ceres Capital Partners Files Prepackaged Plan

Law360, New York (April 18, 2008, 12:00 AM EDT) -- Ceres Capital Partners LLC filed a prepackaged Chapter 11 plan on Thursday, after the subprime mortgage crisis left Ceres' funds unable to retain access to credit markets or find new buyers for their products.

Ceres, which was founded in 1999 to organize and manage commercial paper conduits and structured investment vehicles, filed its petition in the U.S. Bankruptcy Court for the Southern District of New York.

The company listed assets between $1 million and $10 million and liabilities in the $50 million to $100 million range....
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