SAN FRANCISCO—Social media site Bebo.com filed a voluntary Chapter 11 petition citing liabilities in the $1 million-$10 million range (In re Bebo.com Inc., Bankr. C.D. Cal., No. 2:13-bk-22205 (ER)).
The filing in the U.S. Bankruptcy Court for the Central District of California lists the Internal Revenue Service as the top unsecured creditor, owed $380,000, and second are Criterion Capital and Adam Levin, whose claim for $317,000 in management fees is disputed.
Bebo.com also owes $413,617 in trade debt, including $120,900 to AOL, which bought Bebo for $850 million in March 2008 and sold the site to Criterion Capital ...
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