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‘Terminator’ Owners File For Chapter 11???

T Asset Acquisition, LLC, and related entities that own the rights to the Terminator movie franchise announced today that they have commenced reorganization proceedings under Chapter 11 of the U.S. Bankruptcy Code in federal Bankruptcy Court in Los Angeles. The companies will seek to restructure their financial obligations and resolve related litigation and other matters and emerge from Chapter 11 later this year or early in 2010. Peitzman, Weg & Kempinsky, LLP, is reorganization counsel and Glaser, Weil, Fink, Jacobs, Howard & Shapiro, LLP, is corporate and litigation counsel to the companies.

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