Michigan AG unhappy with Citadel's tax payments

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RadioInfo.com reporter extraordinaire Tom Taylor reports that Michigan attorney General Mike Cox has filed information with federal bankruptcy court that Citadel (which owns several radio stations in Detroit, Grand Rapids and mid-Michigan) has "failed to file its 2008 Michigan Business tax return and to remit the taxes, penalties and interest," and that Michigan doubts "as to whether the debtor's proposed plan [to re-organize and flush away two-thirds of its debt] is offered in good faith." The AG's office also claims that under Michigan law, "Certain 'responsible persons' and officers [are] personally liable for certain unpaid corporate obligations."

Michigan is an an unsecured creditor as Citadel proceeds through Chapter 11 bankruptcy, and the state has obviously decided to make an attempt to collect on those taxes.

 

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This page contains a single entry by Mike Austerman published on April 22, 2010 7:32 AM.

Metro Detroit: Newsmakers April 22, 2010 was the previous entry in this blog.

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