Baltimore Opera Company to file for bankruptcy today, after the board rejected a proposal to file for Chapter 7.
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:-(
Posted by: Coloratura Tempura | December 05, 2008 at 08:17 PM
I'm a bankruptcy paralegal. Believe me, Chapter 11 is much better than Chapter 7. 7 is liquidation and complete closure. Chapter 11 is a chance to get funding and reorganize under a plan. It looks like while they are poised to file their petition, they haven't actually pushed the button yet, assuming they are filing either in Maryland or Delaware. They are incorporated in Maryland so most likely they will file there.
Posted by: SarahB | December 06, 2008 at 05:47 PM