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Article: GRAND TRAVERSE RESORT REFILES CHAPTER 11 PETITION
- Article from:
- PR Newswire
- Article date:
- July 7, 1992
CopyrightCOPYRIGHT 1992 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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GRAND TRAVERSE RESORT REFILES CHAPTER 11 PETITION
TRAVERSE CITY, Mich., July 7 /PRNewswire/ -- Grand Traverse Resort
refiled a Chapter 11 bankruptcy petition in Grand Rapids today after unsuccessfully attempting to negotiate a settlement with its primary partner/lender, the General Retirement System of the city of Detroit.
Simultaneously, the resort filed a plan of reorganization which will provide for full payment to general creditors and which will allow the bankruptcy court to determine the amount necessary to pay the General Retirement System.
As before, ...