In Monday’s (11/22) Pacific Business News, James R. George writes, “Word on the street is that the Honolulu Symphony Society is considering changing its Chapter 11 bankruptcy to a Chapter 7. The difference is that Chapter 11 involves reorganization, and Chapter 7 means going out of business. The Symphony Society is the nonprofit organization that operates the Honolulu Symphony, which has not held a concert in more than a year. It filed for Chapter 11 reorganization almost a year ago, and its next date with the bankruptcy court is scheduled for Dec. 13. PBN asked Symphony Society Executive Director Majken Mechling whether the word on the street had any validity. Here is her response: ‘Whenever you file Chapter 11 reorganization, Chapter 7 is always a real possibility whether by choice or by decision of the court,’ Mechling said via e-mail. ‘At this time, the board of directors of the Honolulu Symphony Society will take no action on a decision about the future of the organization until after the Dec. 13 court hearing.’ The Musicians Association of Hawaii, the union that represents symphony musicians, also heard the word on the street and expressed disappointment.”
Posted November 23, 2010
