Jan 31 (Reuters) - RCS Capital Corp, a brokerage firm tied to real-estate investor Nicholas Schorsch, filed for Chapter 11 bankruptcy protection to reduce debt and as per the plan, its key lenders will assume control of the company.

The company listed total assets of $1.98 billion and debts of $1.39 billion, on a consolidated basis, in its bankruptcy filing. (http://1.usa.gov/20B2tPH)

The case is in U.S. Bankruptcy Court, District of Delaware, Case No 16-10223.

(Reporting By Aurindom Mukherjee in Bengaluru; Editing by Gopakumar Warrier)