Article: Vacation Charters' woes affect Jim Thorpe school district

Vacation Charters' first step in emerging from three years in Chapter 11 bankruptcy also helped the Jim Thorpe Area School District prevent a 24-mill tax increase for area property owners.

But the Lake Harmony, Carbon County-based hotel/resort complex's financial woes have helped contribute to the school district's tax increases.

Vacation Charters owed the school district more than $1 million in taxes for the 1990-91, 1991-92, and 1992-93 school years when it filed on June 9, 1993, a Chapter 11 petition in the United States Bankruptcy Court for the Middle District in Pennsylvania.

As of May 1, taxes due plus interest totaled more than $2.3 million. Vacation Charters Ltd., owner of Split ...

Related newspaper, magazine, and journal articles:

 
 
Newsweek Harper's Magazine The Washington Post Chicago Tribune Crain's Chicago Business PRNewswire Pediatric News The Nation Advertising Age The Economist (US) A FREE trial gives you access to over 80 million articles! Access over 6,500 publications with a FREE trial!