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The Deal: Would-Be Playland Operator Plunges Into Ch. 11May 28, 2019
Standard Amusements filed for bankruptcy protection in a dispute with Westchester County over management of the Rye Playland amusement park. The company, which was set to operate the 280-acre amusement park, submitted a petition to avoid termination of its management agreement by the county.
Standard Amusements’ management agreement with the county arose from an attendance drop in the mid-2000s, which forced the county to seek private partner.
O’Melveny partners John Rapisardi, Daniel Shamah, and Daniel Cantor, and counsel Diana Perez are debtor counsel.