Restructuring

City Homes Inc., which rents more than 300 Baltimore apartment units to low-income tenants and faces a wave of lead paint lawsuits, filed for Chapter 11 protection.

Furniture Brands International Inc., one of the largest furniture manufacturers in the U.S., filed for bankruptcy Monday with a deal to sell its assets to investment firm Oaktree Capital Management for $166 million. Read the Daily Bankruptcy Review article via The Wall Street Journal.

This week on The Broke and the Beautiful, Alex Rodriguez’s troubles pushed the producer of a new cartoon into bankruptcy. Also, Warren Sapp’s shoes were finally sold and the former Versace mansion is about to hit the auction block.

Dance New Amsterdam, a nonprofit New York dance education and performance center, raised the $50,000 it needed to avoid immediate shutdown, but its future remains unclear.

A bankruptcy judge said Longview Power LLC can use its lenders’ cash to fund its bankruptcy case and set up a showdown between the company and a group of contractors over disputed letters of credit. Read the Daily Bankruptcy Review article here.