Was the Philadelphia Orchestra’s Bankruptcy Filing a Bad Idea?
(May 3rd, 2011 under Non Profit Bankruptcies)“The Philadelphia Orchestra is not insolvent and it is nowhere near insolvent. According to its IRS filing, it ended Fiscal 2009 with an endowment of over $129,000,000 (down from $143,580,000 the year before) and this sum is more than three times its liabilities as of the filing date of the Chapter 11 proceeding. To the [...]
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