Tavern’s debts in vicinity of $15 million

NYHTC — January 23, 2010

Tavern on the Green's debtors, secured and unsecured, are owed a total of approximately $15 million. TD Bank, the only secured creditor and the first in line for payment, is owed $6.6 million. Given the amount produced to date by the sale of Tavern assets, the likelihood of other creditors receiving at least some moneys will depend on whether a federal court judge awards ownership of the Tavern on the Green name to the LeRoy family or to the City of New York.

Collins, Glenn. Tavern is in a deeper hole than was thought. NY Times, January 19, 2010.
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