City Opera to stage anniversary concert after Chapter 11 filing

February 14, 2014 4:11 pm Published by

City Opera in New York may have shuttered its operations for the season, but that has not stopped the group from celebrating its 70th anniversary. The opera company was forced to declare bankruptcy, canceling its entire season. A special performance will be held in honor of the company’s seven-decade presence in New York City, however. City Opera has declared Chapter 11 bankruptcy and will likely liquidate the business.

Despite the financial troubles, members of the “City Opera Family” said they could not allow the anniversary to pass unrecognized. The event is being staged by the performers’ union that represents entertainers, American Federation of Musician’s Local 802. The concert is scheduled to occur on Feb. 21 at the City Center, which has historical significance as the first location of a City Opera performance. Although this is the only reunion concert currently scheduled, representatives have said that the performers may consider similar shows in the future.

In the mean time, New York City Opera is working through court proceedings related to its thrift shop that is operated in Midtown Manhattan. That shop has been open for 25 years. The court may grant the company additional time to decide whether to reject the lease for that shop.

Chapter 11 bankruptcy can be a positive financial option for a business. This section of the bankruptcy code can allow a business owner to restructure debt or the business itself. Chapter 11 provides debtors with more control over the business operations. Other bankruptcy options require total liquidation and a cessation of operations. Business owners who are facing financial difficulty and need debt relief may benefit from consulting a New York bankruptcy attorney, who may be able to identify additional legal options.

Source: The Wall Street Journal, “Despite Bankruptcy, City Opera Performers Celebrate 70th Anniversary” Stephanie Gleason, Feb. 07, 2014

facebooktwittergoogle_pluslinkedinmailby feather
Free Debt Consultation

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

Associations & Memberships:
  • New York State Bar Association
  • National Association of Consumer Bankruptcy Attorneys
Rock County New York | Town of Stony Point | Town of Haverstraw | Town of Ramapo | Town of Clarkstown | Town of Orangetown

Ugell Law Firm, P.C.
151 North Main Street , 2nd Floor :: Suite 202 :: New City, NY 10956
Phone: 845-521-7841 :: Telephone: 845-213-1250 :: New City Law Office Map

Se Hable Español

Rockland County Bar AssociationMax Gardener's Bankruptcy Boot Camps | Lizmere South Mountain FarmNew York State Bar AssociationNational Association of Consumer Bankruptcy Attorneys