Surfing

Bankruptcy filings threaten to wipe out this season's Mavericks surfing contest

Bankruptcy filings threaten to wipe out this season's Mavericks surfing contest

Two companies that manage the Mavericks big wave contest are seeking to restructure their debts in bankruptcy court, raising questions about whether the world-famous surfing event will happen this year.

Cartel Management Inc. and Titans of Mavericks LLC filed for Chapter 11 bankruptcy in the Los Angeles division of U.S. Bankruptcy Court on Tuesday. The filing allows Cartel and Titans to develop a reorganization plan to keep their operations going while paying off creditors over time.

According to court records, Cartel faces claims of about $1.9 million and Titans of Mavericks faces more than $776,335 in claims from their top 20 creditors. Some of the...

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