Trust estates of Nelson Bunker Hunt and...

Trust estates of Nelson Bunker Hunt and Lamar Hunt, two members of the wealthy Texas family, have filed for reorganization under Chapter 11 of the Bankruptcy Code, trustees for the estates reported. By placing the trust estates under bankrutpcy protection the Hunt brothers can avoid foreclosures on their valuable oil properties. The Hunt fortune, estimated at $5 billion in 1982, is currently worth less than $1 billion, reflecting the effects of last year’s sharp fall in oil prices. The William Herbert Hunt Trust Estate, another family entity, has already undergone Chapter 11 reorganization.