Zohar III, Corp., along with five of its subsidiaries and affiliates, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 18-10512). The Petition estimates Zohar III’s assets to be between $1–$10 billion and its liabilities to be between $500 million–$1 billion. The Debtors, which are headquartered in New York, NY, comprise a group of private investment funds managed by their sole director and owner, Lynn Tilton. According to Tilton’s First Day Declaration, the Debtors have filed in order to centralize and resolve ongoing litigation with Alvarez & Marsal Zohar Management and MBIA Insurance Corporation, to sell or monetize certain funds, and to provide for the orderly payment of the Debtors’ creditors and investors. The First Day Declaration of the Debtors’ Chief Restructuring Officer explains that the ongoing litigation, consisting of no less than nine (9) active, pending cases across seven (7) jurisdictions involving dozens of parties, is leading to destruction of value and the Debtors were left with no choice but to file Chapter 11. No claims and noticing agent has been proposed yet. The cases have been assigned to the Honorable Christopher S. Sontchi.