Michigan Almanac: April 2010 Archives

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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About this Archive

This page is a archive of entries in the Michigan Almanac category from April 2010.

Michigan Almanac: March 2010 is the previous archive.

Michigan Almanac: May 2010 is the next archive.

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