Inner City Media Parent Targets Lenders To Shield IP Assets

Law360, New York (January 30, 2012, 8:08 PM EST) -- The nondebtor parent company of Inner City Media Corp., the bankrupt African-American radio station operator, sued Inner City's senior lenders Friday in New York in an effort to protect 13 trademarks allegedly linked to a loan on which Inner City now owes about $250 million.

Parent company Inner City Broadcasting Corp. says it owns the trademarks and is seeking a court ruling finding that the intellectual property isn't pledged to the lenders as part of their 2004 credit agreements.

ICBC launched launched the adversary case because...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.