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Big Apple Circus Confirms Chapter 11 Plan

December 14, 2017

On December 12, 2017, the United States Bankruptcy Court in New York confirmed the chapter 11 plan of reorganization for Big Apple Circus Ltd. The circus and nonprofit organization filed for bankruptcy in November 2016, citing a debt of about $8.3 million, as well as a decrease in ticket sales. In February, Judge Sean H. Lane approved the sale of most of the circus’s assets to Florida investment firm Compass Partners, which will continue to operate the circus. The approved plan includes the recovery of all administrative and secured claims, the recovery about 15 percent of the nonprofit’s unsecured debt, and the distribution of approximately $3.8 million in endowments, grants and other dedicated funds to other circus-related and children’s charities.

Robert J. Feinstein, Maria A. Bove and Steven W. Golden were members of the PSZJ team that served as committee counsel on a pro bono basis