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

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.

wow if you cant even afford to file bankruptcy...

A wonderful article, well worth the read:

http://m.auroraadvocate.com/opinion/2014/08/27/kaleidoscope

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.

That link takes us to the home page of the site. Can't find the article you're talking about.

The article was there earlier when Terpy posted it, but it appears to have been taken down.

http://m.sharonherald.com/news/article_637ccaf0-33d2-11e4-a3f9-001a4bcf887a.html?mode=jqm

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.

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.

More:

http://m.meadvilletribune.com/news/article_a166a3a2-3c71-11e4-9b96-df507055fd2d.html

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.

Ghost Lake Contract Change Gives Park Guaranteed Income:

http://m.meadvilletribune.com/news/local_news/article_9d91cb78-3e13-11e4-84f0-0bf06f5a806f.html?mode=jqm

Rearranging the deck chairs?

http://m.meadvilletribune.com/news/article_77362acc-4918-11e4-a405-c3025154cecc.html?mode=jqm

Sounds like the trustees have plenty of optimism. I just hope that optimism isn't for naught.

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.

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.

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.

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.

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.

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.

Meanwhile, Woman Jailed For Stealing Beams From Bedraggled Park:

http://wytv.com/2014/10/03/woman-jailed-for-stealing-beams-from-amusement-park/

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

Hasnt this park struggled to survive for a long time?

Yes. At least three decades now.

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.

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.

I never understood any part of the Commonwealth of Pennsylvania's Attorney General's argument, as I had indicated in posts above.

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.

http://www.yourerie.com/news/news-article/d/story/conneaut-lake-park-saved-from-sheriffs-sale/14346/seXLJkkr9kGgJFj45dK8Pg

Maybe. Probably not....

See post above.