As Sundance starts and sends excitement throughout the town, there is another reason for some to be excited….the parties involved in the Promontory bankruptcy case have all agreed on the reorganization plan! Here is the letter from the legal team to members:
I’m happy to tell you that Promontory’s lawyers advised the Bankruptcy Judge this morning [...]
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discussion of Promontory bankruptcy plan in Park City, Utah
Just before the long weekend, the bankruptcy court approved dip financing that will continue operations at Promontory through January 2009. Pivotal (the current developer of Promontory, who was forced into Bankruptcy in March) provided the financing from one of their other Pivotal company…the judge ruled that the two companies, Pivotal Promontory and the other Pivotal [...]
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