Marinas International Divisions Sail Into Ch. 11

Law360, New York (June 11, 2013, 7:09 PM EDT) -- Three subsidiaries of Marinas International Inc. that operate 11 marinas across the country filed for Chapter 11 bankruptcy Monday, saying they would continue operations while restructuring up to $50 million in debt.

Marina International Consolidated LP and two affiliates — Marinas International Consolidated II LP and Marinas International Consolidated II Ouachita LP — listed $1 million to $10 million in assets and $10 million to $50 million in liabilities, according to its Chapter 11 petition.

"The debtors continue to operate their business and manage their properties...
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