Almatis files for Chapter 11 bankruptcy protection
Debt-laden German aluminium firm Almatis BV filed for Chapter 11 bankruptcy protection in a US bankruptcy court, two days after its owner Dubai International Capital urged the lenders not to rush into bankruptcy.
The parent company of Reader's Digest has filed for Chapter 11 bankruptcy protection for the second time in less than four years, saying it needs to cut its debt so it can keep restructuring.