The owners of the bankrupt Menominee Nation Arena in Oshkosh want more time to figure out how to pay their debts.
Fox Valley Pro Basketball is filing for an extension of its deadline to present its plan for reorganization. The group argues it’s complex, and that lenders won’t be looking to make new loans until the new year.
The owners owe more than $29 million, and they filed for bankruptcy in August.
The largest creditor, Bayland Buildings, is owed $21 million for constructing the arena, and the company is opposing the extension.
The owners of the Wisconsin Herd, the arena’s largest tenant, agreed to the extension. The team hasn’t been paid a penny by Fox Valley Pro Basketball in three years.
A federal bankruptcy judge will decide if the arena owners will get until the end of February to file their plan.
