Lawsuits fly as Livent seeks bankruptcy protection

Article Abstract:

Livent Inc., the theater company created in Toronto by Myron Gottlieb and Garth Drabinsky, has filed for bankruptcy protection in the US, stating assets of C$309 million and liabilities amounting to C$334 million. Lawyers for Livent noted the company, which declared insolvency, will also filed for bankruptcy protection in Canada. The list of creditors released by the company include the Canadian Imperial Bank of Commerce, which is owed C$50 million, and the pension fund of the provincial government of British Columbia, which is owed C$10 million. Livent also filed a lawsuit against founders Gottlieb and Drabinsky, alleging the two executives of committing fraud and kickbacks.

Comment:

Files for bankruptcy protection in US, stating assets of C$309 mil and liabilities amounting to C$334 mil

United States, Organizational history, Theatrical Producers & Artists, Performing Arts Companies, Article

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Livent takes in $11.2-million in March

Article Abstract:

Theater company Livent Inc has posted $11.2 million in ticket receipts in Mar 1999, the highest monthly total since it filed for bankruptcy protection in Nov 1998. The company posted profits from its production of 'Phantom of the Opera' in Toronto and 'Ragtime' in New York. Livent also reported a positive cash flow of $776,237 on its operations for the first time since Nov 1998.;

Canada, Capital funds & cash flow, Theater Arts, Theater Companies and Dinner Theaters, Theater

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