|
|
Article: Wild River Country fights for life; meanwhile, Magic Springs keeps expanding concert series, rides.(Tourism)
- Article from:
- Arkansas Business
- Article date:
- March 6, 2006
- Author:
CopyrightCOPYRIGHT 2006 Journal Publishing, Inc. 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)
|
A U.S. BANKRUPTCY Court judge began hearing arguments Thursday on the fate of Wild River Country in North Little Rock.
The Chapter 11 bankruptcy petition was filed Nov. 3 in an attempt to prevent Community Bank of Cabot from foreclosing on Wild River Country, which defaulted on a $3.08 million loan.
Community Bank wanted U.S. Bankruptcy Judge Audrey Evans to allow the foreclosure to move forward or order the park to make payments to the bank, which it hasn't done since Aug. 22.
Evans didn't rule by Arkansas Business' press time, but the hearing did reveal that Community Bank wasn't as familiar with Hall's corporate structure as it needed to be.