Calgary, From The Ashes

“The Calgary Philharmonic Orchestra’s creditors agreed Wednesday to a repayment plan that will give them half of what they’re owed. It puts the orchestra one step closer to being able to perform again, which they haven’t done since mid-October when they asked the courts for bankruptcy protection… The CPO has developed a restructuring plan that required $1.5 million in new money, and that those they owed money to accepted 50 cents on the dollar. With the creditors unanimous agreement and the city and province kicking in $250,000 each, the orchestra is close to re-opening.”