RAIT Funding, LLC, along with its six affiliates, filed a voluntary petition for reorganization under Chapter 11 in the US Bankruptcy Court for the District of Delaware on August 30, 2019. The debtor listed its assets of $0.05 million and liabilities in the amount of $25.20 million. The debtor is represented by Patrick A. Jackson of Drinker Biddle & Reath LLP as its legal counsel. The debtor also hired UBS Securities LLC and M-III Partners LLC as its financial advisor and Ledgewood PC is appointed as its tax counsel.