Tag Archives: #Bankruptcy

Can a Business Keep the Details of Its Bankruptcy Confidential?

Recently, the New Jersey Herald featured an article about Mountain Creek Resort making a request to court to keep their company’s bankruptcy confidential. Per the Herald article, in early July, the resort asked a federal bankruptcy court to approve its request for confidentiality and non-disclosure agreements that would prevent the public and Vernon Township from accessing certain documents related to their bankruptcy. Following the request, Vernon Township’s council and mayor held a closed-door meeting to discuss the matter. Included in Mountain Creek Resort’s bankruptcy is a $26 million debt they owe to the Vernon Township Municipal Utilities Authority. If the bankruptcy court approves Mountain Creek’s request, then public would not have access to any financial statements and other documents that Mountain Creek provided to Vernon Township as part of their Chapter 11 bankruptcy. In addition, under the confidentiality agreement, the resort would, at its discretion, be able to prevent the…
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