Philadelphia Orchestra Files Reorganization Plan, May Exit Bankruptcy By August

Philadelphia Orchestra Files Reorganization Plan, May Exit Bankruptcy By August

PHILADELPHIA - The Philadelphia Orchestra on May 23 proposed its Chapter 11 reorganization plan in the U.S. Bankruptcy Court for the Eastern District of Pennsylvania, under which all outstanding claims will be resolved by cash payments, paving the way for the orchestra to emerge from bankruptcy on July 31 (In Re: Philadelphia Orchestra Association, et al., No. 11-13098, Chapter 11, E.D. Pa. Bkcy.). Subscribers may view the reorganization plan available within the full update.

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