Organizers of the Bay Area's big-wave surf competition Titans of Mavericks filed Chapter 11 bankruptcy this week amid a selling of their assets and a slew of lawsuits but said the extreme sporting event has not been canceled.
Titans of Mavericks LLC and its affiliate Cartel Management Inc. filed separate petitions in the U.S. Bankruptcy Court for the Central District of California and described the action as an effort to "ensure a smooth and swift transition of the business and operations.
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