A creditor in bankruptcy must normally file a proof of claim by a certain specified time, known as the bar date, or have its claim be barred. Bankruptcy Rule 3002(c)(6)(A) provides a.
The Alamo Drafthouse Slaughter Lane (Photo by John Anderson)
Bankruptcy doesn t always mean bankruptcy. That s why Chapter 11 bankruptcy protection exists (just ask Apple, Marvel Entertainment, and Six Flags), and the Alamo Drafthouse has just announced that it s moving past its own debt restructuring with the opening of five new locations nationally in the coming year.
With mounting debt due to pandemic closures, the Drafthouse filed for Chapter 11 in March before the United States Bankruptcy Court for the District of Delaware, which was accepted by the court in April. The deal was financed by existing investor Altamont Capital Partners and new investor Fortress Investment Group, with Drafthouse founder Tim League as a minority stakeholder.
DBusiness Magazine
DBusiness Daily Update: Michigan Leads Venture Capital Growth in Region, Sale of Henry Ford Village Approved, and More
Our roundup of the latest news from metro Detroit and Michigan businesses as well as announcements from government agencies, including updates about the COVID-19 pandemic. To share a business or nonprofit story, please send us a message.
Courtesy of Bridge.
Our roundup of the latest news from metro Detroit and Michigan businesses as well as announcements from government agencies, including updates about the COVID-19 pandemic. To share a business or nonprofit story, please send us a message.
Michigan Leads Venture Capital Growth in Great Lakes Region
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