IBahn Seeks Bankruptcy Citing Loss of Contracts, Lawsuits

IBahn Corp., a provider of Internet services to hotels, sought bankruptcy protection in Delaware, citing a loss of contracts with largest customer Marriott International Inc. and patent litigation costs.

IBahn Chief Financial Officer Ryan Jonson said the company had assets of $13.6 million and it listed liabilities of as much as $50 million in the Chapter 11 filing today in U.S. Bankruptcy Court in Wilmington, Delaware.