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City Homes files for bankruptcy protection

City Homes files for bankruptcy protection

Facing a flurry of lead paint lawsuits, a nonprofit company that provides affordable housing in Baltimore has filed for Chapter 11 bankruptcy protection. City Homes Inc. and its subsidiaries, which operate more than 300 apartment units in what officials deem "troubled neighborhoods," face more than 70 lead paint lawsuits, according to the filing in U.S. District Court in Baltimore. In Chapter 11 bankruptcy filings, businesses attempt to reorganize their debts in an effort to continue operating. "In recent years, lead paint litigation suits brought by current and former tenants have dramatically escalated, and there are now more than 70 active cases against the companies,...