Posted on Monday, March 12th, 2012 at 4:15 pm
The State Fair of Virginia, Inc., the non-profit organization that puts on the annual State Fair of Virginia, has been forced from Chapter 11 bankruptcy protection into Chapter 7 liquidation.
SFVA, Inc. proposed to purchase the 360-acre Meadow Event Park where many of the events are held, to emerge from Chapter 11, but the group of lenders rejected the offer. Because the lenders did not accept the offer, SFVA, Inc. was forced into liquidation.
The fate of events such as the 156 year-old tradition of the state fair, the Meadow Highland Games & Celtic Festival, and the Strawberry Hill Races will be determined by the outcome of the Chapter 7 process.
If you or someone you know is considering filing for Chapter 7 bankruptcy, contact the Chapter 7 bankruptcy lawyers of the Russell Van Beustring P.C. at 713-973-6650 today.