Posted by MaryBeth Matzek of Insight Publications
The Menominee Nation Arena in Oshkosh is ready to emerge from Chapter 11 bankruptcy after a federal judge approved its restructuring plan.
The arena, which is owned by Fox Valley Pro Basketball Inc., filed for bankruptcy in August 2019 after Bayland Buildings Inc. filed a lawsuit saying it was still owed $13.1 million for building the arena. Other investors also stepped forward saying Fox Valley Pro Basketball owed them money, too. At the time of the bankruptcy filing,
According to Fox Valley Pro Basketball owner Greg Pierce, the plan will allow it “to pay its trade creditors in full and provides a return to other creditors and investors.”
The arena opened in December 2017 and is home to the Wisconsin Herd, the G-League affiliate of the Milwaukee Bucks.
“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 in a statement.