Jewish History Museum Redoing Bankruptcy Plan After Valuation

Dec. 9, 2020, 8:53 PM

The Museum of American Jewish History has to go back to the drawing board for proposing a reorganization plan after a bankruptcy judge concluded that its property value is about ten times what the museum asserted.

The Philadelphia-based museum and its key creditors told Judge Magdeline D. Coleman the U.S. Bankruptcy Court for the Eastern District of Pennsylvania Wednesday that the proposed plan can’t be confirmed because the court previously ruled that the museum’s value, for purposes of plan consideration, is $66 million.

The museum had asserted that the value wasn’t more than $10.5 million.

The proposed reorganization plan proposed ...

To read the full article log in.

Learn more about a Bloomberg Law subscription.