philly orchestra to emerge from bankruptcy
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Philly Orchestra to emerge from bankruptcy

Arab Today, arab today

Arab Today, arab today Philly Orchestra to emerge from bankruptcy

Philadelphia - UPI

A U.S. bankruptcy judge has approved a reorganization plan for the Philadelphia Orchestra that he said he hopes will guarantee its future for years. The orchestra, which filed for Chapter 11 reorganization in April 2011, should be out of bankruptcy by the end of July, The Philadelphia Inquirer reported. There were no objections to the plan at a hearing Thursday, and Lawrence McMichael, the orchestra's lawyer, led what he described as a "traditional orchestra thank you" for Judge Eric Frank -- clapping. Frank said he hoped the orchestra will continue to perform "for many years to come." "The orchestra is an important cultural and civic institution, and any Chapter 11 case comes with the risk of failure," Frank said during the hearing. "Had that occurred, it would have been a great loss for Philadelphia, the region, and the music world." The bankruptcy filing allowed the orchestra to get pay concessions from its musicians, to hand off its pension obligations to a federal agency and to lower the rent it pays at its current venue, the Kimmel Center. The orchestra has long been one of the great classical music organizations in the United States and was featured in the Walt Disney classic "Fantasia." In recent years it has been hurt by declining ticket sales and recording income and increasing expenses. Chairman Richard B. Worley said after the hearing there is "more work ahead of us than behind us." The orchestra is trying to raise a $60 million to cover budget shortfalls and then more money for an income-producing endowment. Read more: http://www.upi.com/Entertainment_News/Music/2012/06/30/Philly-Orchestra-to-emerge-from-bankruptcy/UPI-31871341030425/#ixzz1zHZUmFOk

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

philly orchestra to emerge from bankruptcy philly orchestra to emerge from bankruptcy

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

philly orchestra to emerge from bankruptcy philly orchestra to emerge from bankruptcy

 



GMT 03:07 2017 Wednesday ,25 January

Health care veterans, pioneers awarded

GMT 05:44 2017 Saturday ,11 November

Business as usual as Hamilton dominates Brazil practice

GMT 11:08 2018 Thursday ,25 October

Russia to be at very high level at conference on Libya

GMT 15:00 2012 Saturday ,21 April

Nelly Karim: Egypt akin to \'Hiya Fawda\'

GMT 03:02 2018 Saturday ,20 January

Egypt's President Sisi says will stand for re-election

GMT 00:51 2017 Tuesday ,24 October

HH the Emir Meets Foreign Minister of Kuwait

GMT 05:42 2017 Saturday ,02 September

64 dead in clashes in Raqa province

GMT 00:08 2017 Sunday ,05 March

Desperate migrants escape Libya 'hell'

GMT 19:24 2016 Saturday ,12 November

Israeli air forces attack Syrian position in Qunaitera
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday