(WLUK) – A federal bankruptcy court has approved a reorganization plan for Fox Valley Pro Basketball, which operates Oshkosh’s Menominee Nation Arena.
“We are very pleased with the Court’s approval of our plan,” stated Greg Pierce, president of Fox Valley, said in a statement. “This will allow us to focus on the difficult tasks ahead of operating the (Menominee) Arena in the COVID-19 pandemic without the added distraction of court proceedings,” he added.
The plan allows Fox Valley to pay its trade creditors in full and provides a return to other creditors and investors.
“Our exiting chapter 11 is the result of the collective effort of the parties, including the City of Oshkosh, Bayland Builders, the Wisconsin Herd and the (Menominee) Tribe, coming to the bargaining table and working through difficult issues in a difficult time” Pierce said.