The Pennsylvania Office of the Attorney General asked a court to reject a trustee’s request to sell one of the University of the Arts’ most valuable properties in bankruptcy.
Attorney General Michelle Henry objected Monday to a proposal by the trustee overseeing the nonprofit institution’s bankruptcy to sell its Arts Alliance Building to Philadelphia real estate investor Allan Domb for $6.5 million. In the objection, filed in the US Bankruptcy Court for the District of Delaware, Henry cited a lack of detail about Domb’s plans for the facility and the identity of the ultimate purchaser.
Instead, the attorney general concluded ...
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