Prospect Park files Ch 11 Bankriptcy Protection

[John]

http://soapcentral.com/soapcentral/news/2014/0310-prospectpark_bankrupt.php

[cassadine1991]

I wonder if the same usual people are dancing with glee over this news

[DRW50]

Jillian Bowe must be moonwalking right now.

Good for them. It's always fun to know your savior is only validated if others fail.

[ChitHappens]

Why can't the dumb asses at PP be used for fodder just like everything else we ridicule here? Why are they special?

[cassadine1991]

Not talking about people here

[DRW50]

Neither was I. The DC crew were screaming with joy over all this stuff when it started months ago. No one here.

[cassadine1991]

I'm also sure the others in the "soap press" are patting themselves on the back. I bet Ron has a big grin on his face over this news

You would think those in this industry would want these shows to succeed

[marceline]

The status quo has been safely preserved. Yay.

Let's predict how this will go. The usual suspects in the "soap press" will have multiple orgasms over this news THEN somebody will remind them that this means a lot of people in the cast and crew are out of jobs. That will make those people act contrite for one or two tweets where they pretend that deep down they really did want these projects to succeed even though all the evidence shows the opposite then they will all start pitching AMC/OLTL actors to Ron saying that he should bring them on board GH's bloated, festering cast but RC won't be able to respond because he'll be too busy stroking the raging boner he got once he heard the news. (Ron, be sure to call you doctor if that thing lasts for more than four hours.)

I take a tiny bit of heart at the fact that they filed Chapter 11 instead of Chapter 7.

[Khan]

Not to sound like an apologist for PP, but don't businesses involved in litigation often file Chapter 11 bankruptcy as a preemptive strike against...something? I don't know whether this spells "failure" on PP's part.

[marceline]

Yes. Plenty of businesses emerge from Chapter 11. My understanding - which I admit is minimal so I invite anyone with more knowledge to correct me - is that Ch. 11 is about restructuring your debt so that you can keep operations going. Sort of like refinancing a mortgage so you can get lower payments even if it takes longer to pay the debt back.

[John]

Ch 11 is a restructing step. Chapter 13 is final bankruptcy for businesses.

[ellabelle]

This is correct as far as I know.

I'm waiting for the legions of clueless people to post all over facebook about how this OBVIOUSLY means ABC gets the shows back (it doesn't) and that the lawsuit is over (it isn't).

[rhinohide]

The only thing that interests me about this whole mess is that FrankenRon never have control of Oltl characters again. They wrecked Oltl before PP had their chance. Now they're devoted to destroying GH. That should keep them occupied.

[Taoboi]

Le sigh.

[marceline]

I feel your pain. I'm the same way about AMC. The thought of those two getting their hands on my show makes me physically ill.