The Interpreter Posted August 18, 2014 Author Share Posted August 18, 2014 Yes. Those are exactly the ones I mean. I would argue that they are not fit to be the owners of that park. New Board to consider asking State to intervene, stop sale: http://m.meadvilletribune.com/news/local_news/article_267c4fce-2683-11e4-ae2f-001a4bcf887a.html?mode=jqm Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted August 19, 2014 Author Share Posted August 19, 2014 According to WTOP Newsradio, Washington, DC, the Trustees today delayed any decision as to whether to file bankruptcy, as they are unsure they have enough cash to cover the upfront litigation and filing fees costs, an estimated 10-20k. Really? Any ONE creditor could object to a re-org. My head hurts. 1 Quote Link to comment Share on other sites More sharing options...
shark6495 Posted August 20, 2014 Share Posted August 20, 2014 wow if you cant even afford to file bankruptcy... 3 Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted September 1, 2014 Author Share Posted September 1, 2014 A wonderful article, well worth the read: http://m.auroraadvocate.com/opinion/2014/08/27/kaleidoscope 3 Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted September 3, 2014 Author Share Posted September 3, 2014 My head hurts: http://mobile.goerie.com/?articleRedirect=1&url=http://www.goerie.com/article/20140902/NEWS02/309029929 Any creditor can typically stop a reorganization if it can be shown a liquidation will likely recover more debt. I don't get this. At all. Quote Link to comment Share on other sites More sharing options...
Creed Bratton Posted September 3, 2014 Share Posted September 3, 2014 That link takes us to the home page of the site. Can't find the article you're talking about. Quote Link to comment Share on other sites More sharing options...
jcgoble3 Posted September 3, 2014 Share Posted September 3, 2014 The article was there earlier when Terpy posted it, but it appears to have been taken down. Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted September 5, 2014 Author Share Posted September 5, 2014 http://m.sharonherald.com/news/article_637ccaf0-33d2-11e4-a3f9-001a4bcf887a.html?mode=jqm 1 Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted September 11, 2014 Author Share Posted September 11, 2014 And here we go: http://m.meadvilletribune.com/news/local_news/article_4146f586-3923-11e4-945b-0019bb2963f4.html?mode=jqm Opinion: The end is probably nearer than most think. Don't wait to vist Conneaut Lake Park. Quote Link to comment Share on other sites More sharing options...
XGatorHead 8904 Posted September 11, 2014 Share Posted September 11, 2014 From the above linked article: “Bankruptcy absolutely has been seen as a last resort,” Turner said. “It’s my understanding we’re not under time stress if the board intends to file. We would have up until the (sheriff’s) sale in November.” No time stress? November 7th will come quickly, perhaps more quickly than the board of trustees would like. I feel the sudden urge to listen to that CLP Carousel Organ CD I bought last month. 4 Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted September 15, 2014 Author Share Posted September 15, 2014 More: http://m.meadvilletribune.com/news/article_a166a3a2-3c71-11e4-9b96-df507055fd2d.html 2 Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted September 16, 2014 Author Share Posted September 16, 2014 Most interesting for what it does not say: http://mobile.goerie.com/html5/sectionfront/content/?content=27318524&type=ETN&story=Trustees+make+no+bankruptcy+decisions+for+Conneaut+Lake+Park+%28Updated%3A+9%3A+35+a.m.%29 Any ONE creditor could object to a bankruptcy reorganization. The goal of any bankruptcy is to maximize debt repayment. The issue of whether an amusement park is the highest and best use of this property would immediately arise. This is probably not a question the Trustees want to force. Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted September 17, 2014 Author Share Posted September 17, 2014 Ghost Lake Contract Change Gives Park Guaranteed Income: http://m.meadvilletribune.com/news/local_news/article_9d91cb78-3e13-11e4-84f0-0bf06f5a806f.html?mode=jqm 2 Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted October 1, 2014 Author Share Posted October 1, 2014 Rearranging the deck chairs? http://m.meadvilletribune.com/news/article_77362acc-4918-11e4-a405-c3025154cecc.html?mode=jqm Quote Link to comment Share on other sites More sharing options...
jcgoble3 Posted October 1, 2014 Share Posted October 1, 2014 Sounds like the trustees have plenty of optimism. I just hope that optimism isn't for naught. 2 Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted October 1, 2014 Author Share Posted October 1, 2014 If they have money to demolish a cottage that isn't even on their property, seems to me they could at least be trying to pay off some of their debts. And changing a lessee to an employee smacks of sheer desperation. Which it probably is. Quote Link to comment Share on other sites More sharing options...
XGatorHead 8904 Posted October 1, 2014 Share Posted October 1, 2014 I'm fairly certain I know which cottage they are referring to. There was a cottage over near Paratrooper and Tilt-A-Whirl that had partially collapsed. It was in extremely poor condition and would be dangerous if someone had attempted to enter it. But I don't see in the article anywhere that says CLP was paying for the demolition, just that they had reached an agreement with the owner of the cottage. Whether that agreement was financial or just good faith is unclear. 4 Quote Link to comment Share on other sites More sharing options...
jcgoble3 Posted October 2, 2014 Share Posted October 2, 2014 http://triblive.com/mobile/6894849-96/park-sale-sheriff Interesting. The state Attorney General's office is now arguing that the park should be tax-exempt as a charitable trust, a designation given to it by the court 11 years ago and never challenged. Also, if the sheriff's sale proceeds, that trust would mean that the buyer must use the property as a public park according to the AG's office. Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted October 2, 2014 Author Share Posted October 2, 2014 The state AG's office may want to research federal bankruptcy law. Creditors have rights that they do not forfeit merely because the debtor is tax exempt or even a charitable trust. And a federal bankruptcy court is not bound by the opinions of a state Attorney General. There is no specific legal advice meant for a particular client contained herein. The author is not engaged in the private practice of law in Pennsylvania, the District of Columbia or any United State. Consult a competent attorney should you have, or think you may have, a legal problem. Bankruptcy is a specialized area of law, and it is particularly important that any advisor you engage be highly skilled, experienced and knowledgable. Legal outcomes cannot be predicted with precision and prognostications are offered without warranty, express or implied. The reader does not secure an attorney/client relationship by reading musings on an Internet forum. 2 Quote Link to comment Share on other sites More sharing options...
jcgoble3 Posted October 2, 2014 Share Posted October 2, 2014 If I'm understanding this right, the AG is arguing in state court that the back taxes for which the park is headed to a sheriff's sale should never have been assessed in the first place, and thus there are no valid grounds for a sheriff's sale. AFAIK, bankruptcy court is not involved yet because no bankruptcy has been filed yet. Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted October 2, 2014 Author Share Posted October 2, 2014 That's all very nice, but the park owes taxes that pre-date the trust and also owes more debts to other creditors as well. 1 Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted October 4, 2014 Author Share Posted October 4, 2014 Meanwhile, Woman Jailed For Stealing Beams From Bedraggled Park: http://wytv.com/2014/10/03/woman-jailed-for-stealing-beams-from-amusement-park/ 2 Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted October 23, 2014 Author Share Posted October 23, 2014 Tax sale postponed until at least December: http://m.meadvilletribune.com/news/local_news/proposed-sheriff-s-sale-of-conneaut-lake-park-postponed/article_1809de54-58db-11e4-af12-732f79d5cd29.html?mode=jqm 1 Quote Link to comment Share on other sites More sharing options...
RollerNut Posted October 23, 2014 Share Posted October 23, 2014 Hasnt this park struggled to survive for a long time? 1 Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted October 23, 2014 Author Share Posted October 23, 2014 Yes. At least three decades now. Quote Link to comment Share on other sites More sharing options...
Hendrick Posted November 3, 2014 Share Posted November 3, 2014 Water park may be headed back to Conneaut Lake Park I think the title is a bit misleading, but the park is planning for 2015. It also sounds like the current board has never thought about reopening the water park until now. Also of note, the board claims Camperland is profitable. 2 Quote Link to comment Share on other sites More sharing options...
PhantomTheater Posted December 4, 2014 Share Posted December 4, 2014 http://www.yourerie.com/news/news-article/d/story/conneaut-lake-park-going-to-sheriffs-sale/35221/hyjk6wsKsEO-6jBCF7irZg#.VH_2VIKruDQ.facebook State AG's request is denied, sheriff sale Friday at 10 am. 1 Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted December 4, 2014 Author Share Posted December 4, 2014 I never understood any part of the Commonwealth of Pennsylvania's Attorney General's argument, as I had indicated in posts above. Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted December 4, 2014 Author Share Posted December 4, 2014 Park To File Bankruptcy This Afternoon In Order To Attempt To Avoid Tax Sale: http://triblive.com/mobile/7299450-96/park-sale-sheriff If they think they will be allowed to re-organize in possession, they are almost certainly sadly mistaken. Terp, who is not engaged in the private practice of law in the Commonwealth of Pennsylvania, the District of Columbia, or any United State. There is no legal advice intended for any particular client contained herein. Consult a competent attorney in your jurisdiction should you have, or think you may have, a legal problem. Legal outcomes cannot be predicted with certainty. This is a disclaimer. Quote Link to comment Share on other sites More sharing options...
The Interpreter Posted December 5, 2014 Author Share Posted December 5, 2014 http://www.yourerie.com/news/news-article/d/story/conneaut-lake-park-saved-from-sheriffs-sale/14346/seXLJkkr9kGgJFj45dK8Pg Maybe. Probably not.... See post above. Quote Link to comment Share on other sites More sharing options...
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