New York City Opera Nearing Exit From Bankruptcy

By Cara Salvatore (January 8, 2016, 5:33 PM EST) -- New York City Opera may finally exit bankruptcy this month with a plan that puts to bed a longtime struggle between two would-be owners but has drawn an objection from the New York Attorney General's Office.

The plan set to be considered at a hearing Tuesday would see architect and businessman Gene Kaufman yield to hedge fund founder Roy Niederhoffer in exchange for a $300,000 claim and other things, filings say.

The new principal, Niederhoffer's NYCO Renaissance Ltd., said in December's plan submission it envisions a "dynamic, lean, entrepreneurial" reorganized New York City Opera that will start off with a $5.5...

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