April 30, 2012
By: John Clark
The San Antonio Opera will soon become the art world’s latest victim of the global recession, as the Los Angeles Times reports that the young musical collective will file for bankruptcy at some point within the next three weeks.
Sources indicate that the opera company, which has experienced much financial hardship in its brief sixteen-year existence, will soon liquidate its assets in bankruptcy court in order repay its debts.
The opera’s financial struggles seemed to hit a peak in November 2011, when, according to reports, the company’s founder and artistic director, Mark Richter, abruptly departed and was replaced by an interim director, who also left after only two months when the company started missing payroll deadlines.
The opera has faced numerous financial struggles in recent years. The recession left consumers less willing to spend money on artistic luxuries, and decreased revenues forced the group to keep payments from its musicians.
To add to the opera’s financial woes, the company is reportedly being sued by the American Federation of Musicians, which alleges that the San Antonio Opera still owes several musicians payments from a production that was canceled in early 2010.
A bankruptcy attorney for the San Antonio opera said he believed that the musician’s lawsuit would be folded into the bankruptcy proceedings, according to information gathered by the San Antonio Express-News.
By filing for bankruptcy, the opera will be able to take advantage of the automatic stay, which will likely delay the collection lawsuit by the musician’s federation. Still, the federation’s claim may simply be added to the list of creditors’ demands.
Sources say that the San Antonio Opera no longer has any assets or staff, and that it has canceled promised performances of “Don Giovanni” and “Barber of Seville.” Fortunately, though, classical musicians in the San Antonio area may not be left penniless.
Sources say that another opera organization, Opera Theater San Antonio, is rising to prominence as its forefather languishes in bankruptcy court. The nascent opera group plans to host its first gala in May 2013, and hopes to put on its first full operas in 2015 after the construction of the group’s new performing arts center is completed.
PAID ATTORNEY ADVERTISEMENT: THIS WEB SITE IS A GROUP ADVERTISEMENT AND THE PARTICIPATING ATTORNEYS ARE INCLUDED BECAUSE THEY PAY AN ADVERTISING FEE. It is not a lawyer referral service or prepaid legal services plan. Total Bankruptcy is not a law firm. Your request for contact will be forwarded to the local lawyer who has paid to advertise in the ZIP code you provide. Total Bankruptcy does not endorse or recommend any lawyer or law firm who participates in the network nor does it analyze a person's legal situation when determining which participating lawyers receive a person's inquiry. It does not make any representation and has not made any judgment as to the qualifications, expertise or credentials of any participating lawyer. No representation is made that the quality of the legal services to be performed is greater than the quality of legal services performed by other lawyers. The information contained herein is not legal advice. Any information you submit to Total Bankruptcy does not create an attorney-client relationship and may not be protected by attorney-client privilege. Do not use the form to submit confidential, time-sensitive, or privileged information. All photos are of models and do not depict clients. All case evaluations are performed by participating attorneys. An attorney responsible for the content of this Site is Kevin W. Chern, Esq., licensed in Illinois with offices at 25 East Washington, Suite 400, Chicago, Illinois 60602. To see the attorney in your area who is responsible for this advertisement, please click here, or call 866-200-8052.
FLORIDA ONLY: Total Bankruptcy is considered a lawyer referral service in the state of Florida under the Florida Rules of Professional Conduct. By all other standards, Total Bankruptcy is a group advertisement and not a lawyer referral service.
If you live in Mississippi, Missouri, New York or Wyoming, please click here for additional information.
By an Act of Congress and the President of the United States, we are a federal Debt Relief Agency. Attorneys and/or law firms promoted through this Web site are also federally designated Debt Relief Agencies. They help people file for relief under the U.S. Bankruptcy Code. Disclosures Required Under the U.S. Bankruptcy Code.