Creative Bankruptcy Solutions

The City of Portland had several contracts and leases with an affiliate of the Portland Trailblazers related to the Rose Quarter Complex.  When the affiliate-debtor filed a bankruptcy case, Ball Janik LLP obtained a ruling that all of the City’s leases and contracts were required to be assumed or rejected as a single whole, eliminating the debtor’s ability to pick and choose among them.  The firm also obtained a ruling that several million dollars in capital improvements needed to be made to the Rose Garden in order for it to be restored to a first class NBA arena as required by the City’s lease.