Tavern on the Green Can Auction Assets, Judge Says
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Tavern on the Green LP, the bankrupt operator of the 75-year-old restaurant in New York’s Central Park, may proceed with an asset sale even if it hasn’t resolved a dispute with the city’s parks department over who owns some of the items, a judge ordered.
U.S. Bankruptcy Judge Allan Gropper in Manhattan ruled that a planned three-day auction beginning Jan. 13 can go ahead. If a Jan. 11 hearing doesn’t resolve the parks department’s claims to some of the items, buyers must be advised they will need to resolve the legal dispute later, Gropper ordered.