Payroll Co. Interlogic Files Ch. 11 After KeyBank Suit

Law360 (August 12, 2019, 2:11 PM EDT) -- Payroll company Interlogic Outsourcing Inc. has filed for bankruptcy in Indiana, just weeks after it was hit with a $122 million suit by KeyBank for depositing bad checks and amid reports that it failed to pay taxes on behalf of some of its customers.

In documents filed Saturday, IOI listed between $1 million and $10 million in assets and between $10 million and $50 million in liabilities. Those documents did not mention the KeyBank lawsuit by name, and IOI didn’t appear to have filed a so-called first-day declaration explaining why it filed for bankruptcy.

IOI is based out of Elkhart, Indiana,...

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