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Prospect Park files Ch 11 Bankriptcy Protection


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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.

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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.

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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.

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