Gen Con Bankruptcy Update–Reorganization Delay Request — No Disclosure Until After Gen Con 2008

I am monitoring the bankruptcy filing of “Gen Con LLC.” Most of the paperwork is uninteresting “notices of service” or financial filings. I did find one item of interest that I thought worth posting.

On May 15, 2008, Adrian Swartout, President of Gen Con LLC filed a document called ” Declaration of Adrian Swartout in Support of Motion to Extend Exclusivity.”

Mr. Ms. Swartout briefly outlines the history of Gen Con, its status within the gaming community and mentions that it was always profitable and has every hope the 2008 convention will also be profitable. He She then mentions that they can probably repay all unsecured claims “in as little as five (5)years.”

To this point I did not see anything worth posting about, until I reached paragraph 8.

The first part of this paragraph makes sense to me. You want to see how Gen Con 2008 goes before finalizing your reorganization plan. This is the sentence I found most interesting “…it seems prudent to await the results of the event itself before finalizing our plan and the disclosures that will accompany it.”

Now, that is a curious statement. What is Gen Con hesitant to place in the public record? My interpretation is that there is something they have to disclose in the reorganization plan that they do not want seen until after the convention is over. I leave it to you to speculate as to what it is, but I am quite curious.

The filing indicates that June 6, 2008 is the hearing date, so we will know more after the court makes a decision.

Here is the complete filing, so you can draw your own conclusion:

Declaration of Adrian Swartout in Support of Motion to Extend Exclusivity

I will keep you apprised of any further information I find.

Trask, The Last Tyromancer