Ebony Creditors Seek To Force Magazine Into Bankruptcy
Law360 (July 23, 2020, 10:55 PM EDT) -- Ebony magazine creditors have urged a Texas federal bankruptcy court to force the historic magazine covering Black culture, news and entertainment into Chapter 7 bankruptcy, a rare move the creditors claim is necessary because Ebony hasn't been paying its debts.
In a pair of involuntary bankruptcy petitions filed Wednesday, creditors Parkview Capital Credit Inc., photo studio Plum Studio and law firm David M. Abner & Associates said Houston-based Ebony Media Holdings LLC "is generally not paying its debts as they become due, unless they are the subject of a bona fide dispute as to liability or amount."
Houston-based Parkview Capital Credit...
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