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Tech company files for Chapter 11 under heavy debt (access required)

MCLEAN—Technology consultant BearingPoint Inc. filed for bankruptcy on Wednesday, saying it had negotiated a “prearranged” bankruptcy plan with lenders that could help reduce its debt load. The company filed for Chapter 11 in the U.S. Bankruptcy Court in the Southern District of New York, with $2.23 billion in total debt and $1.76 billion in total assets ...

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