Veritas-Backed Anthology Mulls Lender Takeover in Bankruptcy (1)

Anthology Inc. is laying the groundwork for a potential Chapter 11 bankruptcy that would see some secured lenders take control of the troubled education-software provider, according to people familiar with the situation.

The restructuring plan calls for an ad hoc group of lenders — led by Nexus Capital Management — to swap their debt for equity in a reorganized company, said the people, who asked not to be identified discussing a private matter. The Los Angeles-based private equity firm has been accumulating Anthology debt in recent months and has emerged as one of its largest lenders, said some of the ...