Car Transporter Allied Systems Driven To Ch. 11

Law360, Wilmington (June 11, 2012, 8:09 PM EDT) -- Atlanta-based Allied Systems Holdings Inc. sought Chapter 11 bankruptcy protection from a Delaware court Sunday, less than a month after the automotive transporter and another affiliate were made the subject of an involuntary petition filed by a group of their creditors.

Units of private equity firms Black Diamond Capital Partners LLC and Spectrum Investment Partners LP had asked the Delaware court May 17 to place Allied Systems Holdings and Allied Systems Ltd. into involuntary Chapter 11, claiming they had defaulted on $53 million in loan payments....
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