Loading ...Northwest Territorial Mint, a Federal Way company that sells precious metals and produces medals and medallions, filed for Chapter 11 bankruptcy protection Friday.
The move came a month after the company and its owner, Ross B. Hansen, were each hit with multimillion-dollar jury verdicts in a defamation and invasion of privacy lawsuit brought in Nevada by a Los Angeles businessman.
Todd Tracy, the company’s bankruptcy attorney, could not be reached late Friday.
The company’s filing says it has more than 200 unsecured creditors, and its assets and liabilities both exceed $10 million. Its biggest listed debts are a $7 million judgment in favor of the businessman, Bradley Steven Cohen, and a $5.5 million judgment in favor of his firm, Cohen Asset Management, both classified as disputed.
cont. http://www.seattletimes.com/business/nw-territorial-mint-seeks-bankruptcy-protection/