The federal trustee involved with the bankruptcy case for the Menominee Nation Arena in Oshkosh is raising questions about the owners’ plans.
The trustee believes Fox Valley Pro Basketball has made “inadequate and insufficient” disclosures on how it plans to actually make money coming out of bankruptcy.
The trustee also notes that no arguments have been made about why creditors shouldn’t be able to sue the owners to recoup their debts.
Private investors that provided $4 million are also objecting to the plan. Peter and Carol Gehrke want to take Gregory Pierce and other officers with Windward Wealth Strategies to arbitration, over claims Pierce broke federal laws in asking for money from them for the arena project.
The bankruptcy judge will hold a hearing next month on Fox Valley’s request for more time to finalize the reorganization plan.
