Lionel Trains, Model Trains, Model Railroads, Toy Trains

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Wednesday, March 09, 2005

Bankruptcy

On November 15, 2004, Lionel, LLC filed for Chapter 11 bankruptcy protection, citing the $40 million-plus judgment in the MTH lawsuit as the primary factor. In the filing, it listed $55 million in debt and $42 million in assets. The largest secured creditor was PNC Financial Services Corp., owed $31 million. The MTH judgment was not included in the $55 million figure.

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