Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

Mcknight Realty Withdraws Paa Bid, Objection

Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

Mcknight Realty Withdraws Paa Bid, Objection

Article excerpt

McKnight Realty Partners has withdrawn its objection to the bankrupt Pittsburgh Athletic Association's reorganization plan, along with its offer to buy the PAA's clubhouse in Oakland.

In a court filing Friday, the Downtown-based developer said it decided to withdraw its offer after learning that the majority of PAA members had voted in favor of the club's reorganization plan, which includes selling the clubhouse on Fifth Avenue to Shadyside-based developer Walnut Capital and using the proceeds to repay creditors.

"Throughout this process, McKnight consistently maintained that it was interested in purchasing the debtors' assets only if a constituency of debtors' estate wanted McKnight to be the redevelopment partner," the developer said in its filing. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.