Museum To Bondholders: Please Don’t Touch Our Assets

 

Photo: Inquirer Staff

Photo: Inquirer Staff

  • The Inquirer reports that the owners of the Please Touch Museum’s sizable debt say they want to sell off some of its assets: “furnishings, equipment, and exhibits, as well as the museum’s accounts and gross receipts, revenues, payments, income, and other funds received by it or on its behalf.” Gretchen Santamour, the museum’s lawyer, argues that the trustee has no right to these assets and any effort to pursue their sale “would result in damages to the museum for which the trustee would be liable.” Instead, the museum proposes an extension of the payment plan to 2036, contingent upon its performance and not, as before, a gradually increasing rate.
About the author

Stephen Currall recently received his BA in history from Arcadia University. Before beginning doctoral studies, he is pursuing his interest in local history, specifically just how Philadelphians engage their vibrant past. Besides skimming through 18th century letters, Steve is also interested in music and travel.

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