Federal judge approves plan in Menominee Nation Arena bankruptcy
OSHKOSH – A federal judge has approved a restructuring plan for the beleaguered Menominee Nation Arena, allowing it to emerge from Chapter 11 bankruptcy.
“We are very pleased with the Court’s approval of our plan,” said Greg Pierce, president of Fox Valley Pro Basketball Inc., which owns and operates the Oshkosh arena. “This will allow us to focus on the difficult tasks ahead of operating the Menomonee Arena in the COVID-19 pandemic without the added distraction of court proceedings.”
U.S. Bankruptcy Judge Beth Hanan approved the plan Wednesday, according to court documents.
The plan allows the arena “to pay its trade creditors in full and provides a return to other creditors and investors,” according to a statement from arena officials.
“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 Menomonee Tribe, coming to the bargaining table and working through difficult issues in a difficult time,” Pierce said in a statement.
Fox Valley and Bayland agreed in June to enter mediation in their dispute over a modified version of the plan, which Bayland rejected claiming it was based on undocumented revenue assumptions. Mediation took place under a Sept. 1 deadline to approve the plan. If the parties failed to reach an agreement, Fox Valley would have withdrawn its objection to Bayland’s motion to dismiss the arena’s bankruptcy case.
Bayland previously sued the arena, claiming it owed $13 million in construction costs. Oshkosh businessman Eric Hoopman sued for repayment of a $1 million loan; Caliber Law Firm sued for $97,000 in unpaid legal bills; and professional wrestling organization ACW Wisconsin sued for more than $30,000 in unpaid ticket sales and promotions.
The Wisconsin Herd, the Milwaukee Bucks’ G-League affiliate, also expressed concerns about a previous version of the plan, saying there was a “tangible risk” it would end its lease with the arena over unpaid revenue from ticket sales, concessions, parking fees and certain advertisements displayed in the arena, according to court documents.
There are several events planned for the fall, including drive-in concerts featuring Aaron Lewis and Absolute Queen and several drive-in movies, arena general manager Jason Fields said in a statement.
Arena staff are following safety guidelines from the Winnebago County and the City of Oshkosh and recommendations of the Centers for Disease Control and Prevention and the Occupational Safety and Health Administration, Fields said.