 In 2012, Brant pledged a portion of his art collection as security to purchase "White Birch Paper" out of bankruptcy in partnership with Black Diamond Capital Management LLC for $94.5 million in cash and $78 million in debt.Brant remains as CEO of "White Birch Paper".In November 2011, "SP Newsprint Co" filed for Chapter 11 bankruptcy due to excessive debt and declining demand for newsprint.