Philadelphia Orchestra files reorganization plan

Thirteen months after entering Chapter 11, the Philadelphia Orchestra Association Wednesday night filed its plan for exiting bankruptcy. With consent — sometimes hard-won — now in place from key creditors, the orchestra’s blueprint for recovery will be considered by U.S. Bankruptcy Court in coming months. If the plan draws no objections and Judge Eric L. Frank approves it, the orchestra expects to be out of bankruptcy by July 31.

More here.

Continue Reading