Penguins pay off nearly all creditors
Aug 23, 2005 16:11:10 GMT -5
Post by M. Beaux-Eaux on Aug 23, 2005 16:11:10 GMT -5
Penguins pay off nearly all creditors
100% recovery of money owed considered rare in bankruptcies
Saturday, August 20, 2005
By Shelly Anderson, Pittsburgh Post-Gazette
The Cecil Township police department provided security at Southpointe when the Penguins practiced there. The officers got paid -- until they didn't, to the tune of $3,234.
Ron Bruno's Videohouse in Green Tree duplicated some tapes for the hockey team and got stuck with an outstanding bill in the underwhelming amount of $109.14.
For Miller's Ace Hardware of McMurray, the amount left hanging on the Penguins' running tab was nearly inconsequential, $11.40.
When the Penguins filed for Chapter 11 bankruptcy Oct. 13, 1998, more than 200 individuals and businesses became unsecured creditors. They were owed varying amounts, totaling in the millions.
They had to wonder how much, if any, money they would recover.
They're not wondering anymore.
- post-gazette.com/pg/05232/557229.stm
100% recovery of money owed considered rare in bankruptcies
Saturday, August 20, 2005
By Shelly Anderson, Pittsburgh Post-Gazette
The Cecil Township police department provided security at Southpointe when the Penguins practiced there. The officers got paid -- until they didn't, to the tune of $3,234.
Ron Bruno's Videohouse in Green Tree duplicated some tapes for the hockey team and got stuck with an outstanding bill in the underwhelming amount of $109.14.
For Miller's Ace Hardware of McMurray, the amount left hanging on the Penguins' running tab was nearly inconsequential, $11.40.
When the Penguins filed for Chapter 11 bankruptcy Oct. 13, 1998, more than 200 individuals and businesses became unsecured creditors. They were owed varying amounts, totaling in the millions.
They had to wonder how much, if any, money they would recover.
They're not wondering anymore.
- post-gazette.com/pg/05232/557229.stm