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From: PDX Tribune

Suddenly, Paul Allen seems to have an issue with … Paul Allen.

The Alice in Wonderland world of a company wholly owned by Paul Allen declaring bankruptcy — the Paul Allen who is worth $21 billion, according to Forbes magazine — is getting stranger and stranger.

In the bankruptcy case of Allen-owned Oregon Arena Corp., the Portland Trail Blazers are arguing that Oregon Arena Corp. has breached its contractual duties to the Trail Blazers by not maintaining the Rose Garden for the last several years as a “first class” arena.

The Trail Blazers, of course — like Oregon Arena — are wholly owned by Allen.

But you wouldn’t know it by reading some of the court papers......
 

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:nonono:

and I am sure both companies will charge these as expenses, lowering their taxable incomes, thus paying less taxes

who ends up paying for it? ...us.... by not having those taxes collected and reisued to us where its needed... like the school systems

and they wonder why fan interest in Portland is dying out!

He will spend more money on this than I will make in a lifetime :eek:


but its a business, and they are manuervering to make more money somehow
 

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Reality check folks:

On PAPER, Allen may still own the RG. In fact, the banckruptcy court and the creditors have more control right now than he does.

From what I have read, the goal of the creditors is to take over the RG and kick Allen to the curb. This is obviously a warning shot that he can make their lives miserable if they do.

In his shoes, you would be fighting back too.
 

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Originally posted by <b>Oldmangrouch</b>!


In his shoes, you would be fighting back too.
In his shoes, I would NEVER have declared bankruptcy.
 
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