Raleigh, N.C. - Oasys Mobile, a provider of content over mobile devices, announced on Thursday that it has filed for voluntary Chapter 11 bankruptcy protection.

Under a proposed reorganization plan, the current creditors of the company will take over all of the equity ownership of Raleigh, N.C.-based Oasys Mobile.

The filing was prompted by the company's inability to pay senior secured debentures held by LAP Summus Holdings and Rock Hill Partners in the amount of $8 million.

Founded in 1984, Oasys develops, publishes and distributes over 35 branded mobile applications, including games, ringtones and other services, in the U.S., Canada and abroad. Content partners include Mattel and 2K Games.

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http://www.oasysmobile.com