South Florida Radio Stations File Chapter 11 Bankruptcy

02/17/2014

Chapter 11 Bankruptcy attorney Fort Lauderdale Companies owned by radio mogul James Hilliard of Palm Beach County have filed for bankruptcy protection. James Crystal South Florida and James Crystal Inc., the owners of two major South Florida radio stations, have filed Chapter 11 cases. Both companies list their debt to be between $10 and $50 million.

The radio stations involved in the bankruptcy are sports talk WMEN-640 AM, home of Sid Rosenberg and Orland Alzugaray, andWFTL-850 AM, which hosts the syndicated talk show hosts Michael Savage and Geraldo Rivera, plus local hosts Rich Stevens and Joyce Kaufman. These two stations can be heard from north of Vero Beach to Key West.

Apparently the radio stations’ financial troubles are linked to the holder of a $17 million loan freezing the group’s bank accounts. This includes the payroll account, which has resulted in 75 employees only recently receiving their paychecks due since the beginning of the year.

It is being reported that the companies intend to reorganize and obtain a fresh start. Only time will tell, but many listeners in South Florida are hoping the radio stations can get their finances worked out.

 

Please keep in mind that every case is different. If you have questions about Chapter 11 bankruptcy, or any other type of personal or corporate bankruptcy, and you would like to schedule a no-cost consultation, please contact our office by completing the form on this website, calling us at 954-920-5355, or emailing us at info@lslawfirm.net.

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Attorney Advertising. © Copyright 2017 Leiderman Shelomith. All rights reserved. Please keep in mind that every case is different, so if you are thinking of filing bankruptcy,
and would like to schedule a no-cost consultation, please contact our office by completing the form on this website,
calling us at 954-920-5355, or e-mailing us at info@lslawfirm.net.