Nassau Broadcasting Faces Involuntary Bankruptcy in Delaware
Nassau Broadcasting Partners LP, a closely held company that runs radio stations in the northeast U.S., faces an involuntary petition for its bankruptcy from creditors owed more than $83.8 million including Goldman Sachs Lending Partners LLC and Fortress Credit Opportunities LP.
Goldman said it’s owed more than $69.8 million, Fortress made a claim for more than $11.2 million, and P.E. Capital LLC. seeks $2.8 million, according to the Chapter 7 petition filed in U.S. Bankruptcy Court in Wilmington, Delaware, today.
The company, based in Princeton, New Jersey, runs or owns radio stations in New Jersey, Maine, New Hampshire, Vermont, Maryland and Pennsylvania.
A message left in the company’s general voicemail after hours for President Louis Mercatanti wasn’t immediately returned.
Involuntary petitions were also filed for Nassau Broadcasting I, Nassau Broadcasting II and Nassau Broadcasting III, according to the court docket.
The case is: In re Nassau Broadcasting Partners LP, 11-09-12934, U.S. Bankruptcy Court, District of Delaware (Wilmington).
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