The resurrection of the New York City Opera is still uncertain. According to the Wallstreet Journal, New York State Attorney General’s office gave a rather doubtful response to the plan of NYCO Renaissance Ltd., a group led by former City Opera trustee Roy Niederhoffer, saying that the rescue group has not yet provided sufficient evidence for its financial projections. Admitting that “the Plan is almost certainly financially viable in the short run,” Assistant Attorney General Rose Firestein wrote that this “cannot be said for the Plan’s financial sustainability beyond its first few years.” NYCO Renaissance will now have to clarify the issues raised by the Attorney General’s office.
Meanwhile the Attorney General’s office also criticized a plan to pay $300,000 to New Vision for NYC Opera Inc., a rival group willing to withdraw his competing proposal in case it is paid $300,000 for administrative expenses.
The attorney general’s office objected to this demand, saying that New Vision for NYC Opera Inc has not « made a substantial contribution to City Opera’s bankruptcy estate or to this case.”
