Bobby Brown's Studio Files For Bankruptcy

Feb. 13 [16:00 EST] -- Bobby Brown, who's on tour with the reunited New Edition, had his lawyer put his Atlanta recording studio under Chapter 11 bankruptcy protection on Monday, only 15 minutes before deputies were to arrive to seize his equipment.

It seems the Studer-Editech recording equipment company had sued Bosstown, the company Brown formed to run the studio.

Studer claims Brown defaulted on a $194,000 loan to pay for the studio equipment. By filing Chapter 11, Brown gets to keep the gear at his studio, for the time being.