OSHKOSH (NBC 26) -- The Menominee Nation Arena announced the U.S. Bankruptcy Court in Milwaukee approved the plan of reorganization for Fox Valley Pro Basketball.
In a news release issued Friday, the Menominee Nation Arena said this approval allows Fox Valley to exit chapter 11 bankruptcy.
The plan allows Fox Valley to pay its trade creditors in full and provides a return to other creditors and investors, the news release states. All of them would have received nothing if Fox Valley had not entered protection under chapter 11, according to the Menominee Nation Arena.
“Our exiting chapter 11 is the result of the collective effort of the parties, including the City of Oshkosh, Bayland Builders, the Wisconsin Herd and the Menominee Tribe, coming to the bargaining table and working through difficult issues in a difficult time” said Greg Pierce, president of Fox Valley Pro Basketball.
The Menominee Nation Arena is home to the Wisconsin Herd, Wisconsin GLO and Fox Valley Roller Derby.
