Reuters: Bankruptcy News: UPDATE 1-Velo Holdings files for Ch.11 bankruptcy

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UPDATE 1-Velo Holdings files for Ch.11 bankruptcy Apr 3rd 2012, 02:01 Mon Apr 2, 2012 10:01pm EDT April 2 (Reuters) - Consumer marketing services provider Velo Holdings Inc filed for Chapter 11 reorganisation in a U.S. bankruptcy court late Monday. The company listed assets in the $100 million to $500 million range and liabilities in the $500 million to $1 billion range. The company listed 13 affiliates in its filing with the U.S. Bankruptcy Court in the Southern District of New York, including marketing company Brand Magnet Inc and identity protection service provider, FYI Direct Inc. According to the company's filing, Google Inc is listed as its largest creditor with a claim for $3.7 million.

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