New York City Opera Board Votes In Favor Of Bankruptcy

Law360, New York (September 27, 2013, 5:52 PM EDT) -- The New York City Opera will file for bankruptcy if it doesn't raise $7 million by Monday, the opera's board voted Thursday.

The board's vote in favor of starting bankruptcy proceedings casts doubt on the likelihood that the company will come up with the necessary funds to see another season. The news follows an appeal recently made by the opera, seeking $7 million by the end of the month in order to launch its 2013-2014 season. Without the funds, the opera's last production may be “Anna...
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