Tavern On The Green Gets Ch. 7, Loses Rights To Name

Law360, New York (March 11, 2010, 4:21 PM EST) -- A bankruptcy judge has approved famed Central Park restaurant Tavern on the Green LP's bid to liquidate its remaining assets, while another judge has stripped the debtor of its most important possession — its name, once valued at $19 million.

Judge Allan L. Gropper of the U.S. Bankruptcy Court for the Southern District of New York on Wednesday approved a February motion by the restaurant's official committee of unsecured creditors to convert the Chapter 11 case to Chapter 7, despite vitriolic objections from the city of...
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