National Slavery Museum's Reorganization Plan Gets a Hearing

by Associated Press posted Apr 11 2012 4:20PM
  RICHMOND, Va. (AP) - A reorganization plan for the debt-ridden U.S. National Slavery Museum is heading to creditors.
     U.S. Bankruptcy Judge Douglas O. Tice Jr. on Wednesday scheduled a June 6 hearing on the plan, which will be voted on by creditors before the hearing.
     The museum envisioned by former Gov. L. Douglas Wilder was sunk by more than $7 million in debt after fundraising for the proposed Fredericksburg attraction dried up.
     Under a plan submitted by the museum's attorney, Sandra R. Robinson, the museum would launch an ambitious fundraising effort to repay creditors and get the museum back on track.
     The museum's Chapter 11 bankruptcy filing lets museum's backers to develop a plan to emerge from bankruptcy while staving off creditors' lawsuits. 
     Tice complimented Robinson on her efforts to revive the museum. 
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Location : RichmondVirginia
04/11/2012 4:20PM
National Slavery Museum's Reorganization Plan Gets a Hearing
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