PHILADELPHIA (AP) — The Philadelphia Orchestra is out of Chapter 11 bankruptcy.
A month after a U.S. Bankruptcy Court judge approved its reorganization plan, The Philadelphia Orchestra Association announced Tuesday it has officially emerged from Chapter 11.
The POA addressed more than $100 million in claims, debts and liabilities with a settlement of $5.49 million, a statement from the association and its subsidiary, the Academy of Music, said.
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