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PFD Exploring Bankruptcy, Supremem Court Decisionb Pending

February 07, 2012

    As legal fees

mount, and the Town Toyota Center arena continues to be unable to turn a profit, the PFD’s finances are

faltering, bringing closer the possibility of bankruptcy.
    The Greater Wenatchee Regional

Events Center Public Facilities District board on Thursdsay agreed to interview two law firms — one from

Florida and one from the Northwest — to possibly retain for legal advise in case it has to file bankruptcy

as a result of the arena’s outstanding $42 million debt.
    The PFD’s attorney,

Pete Fraley, said the board may have to pursue bankruptcy if local jurisdictions cannot find a way to pay off the

debt, which went into default on Dec. 1.
    Isaac Kaplan-Woolner reached Fraley by phone to

get an update on the PUD’s finances and the latest on the Town Toyota Center’s defaulted debt.