Credit Crunch Pushes TitleMax Into Bankruptcy

Law360, New York (April 20, 2009, 12:00 AM EDT) -- The lack of liquidity in the credit markets has led title lending company TitleMax Holdings LLC to take refuge in Chapter 11 protection, which the company hopes will provide it with the necessary leeway to reorganize its capital structure.

Savannah-based TitleMax Holdings filed for bankruptcy, along with numerous affiliates, on Monday in the U.S. Bankruptcy Court for the Southern District of Georgia. TitleMax listed assets and liabilities both in the $100 million to $500 million range.

TitleMax is still highly profitable, and filed for Chapter 11...
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