A break in the case: Bankrupt Marquette YMCA could take a huge first step to a financially solvent future as Nov. 27, 2017 will be a big day- a judge will rule on a motion this Monday that states the city of Marquette is willing to renegotiate its lease with the bankrupt YMCA – and the Marquette City Council will take it up at that night’s meeting – Sustainability Sunrise

URGENT URGENT – Upper Peninsula Breaking News Bulletin – 11-21-17 10 a.m. ET

Huge news for the bankrupt YMCA as Marquette Monday will help in first big step to save Y financial future – Read the actual exclusive federal documents about the YMCA – as it restructures

The case for “Y save the Y” – and the ‘Sustainability” campaign is working and there reasons to do so are overwhelming – including the health of the community as it is very popular despite competition from other exercise/health facilities

By Greg Peterson
Upper Peninsula Breaking News
News Director/Co-Owner
906-273-2433

(Marquette, MI) – Officials with the YMCA of Marquette County will be sitting on the edge of their seats – and be on the phone – this coming Monday as a federal bankrutpcy judge decides whether it can renegotiate its lease with the city of Marquette – only hours before the city council takes up the matter.

The YMCA in Marquette County made the national news in May 2017 when it filed for Chapter 11 federal bankruptcy protection as it deals and renegotiates some $4.8 million in debt. Nearly $3 million is owed on a mortgage held by the United States Department of Agriculture—Rural Development authority.

In a letter at the time, the current YMCA leaders said previous board members incurred “extreme debt” during an “aggressive expansion” in the Marquette area.
The YMCA in Marquette County opened in 1985.

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In a November 10, 2017, the YMCA asked the U.S. Bankruptcy Court in Marquette to enter “an order authorizing Debtor (YMCA) to assume the lease for the Marquette (YMCA) Facility and allow the YMCA to move forward by executing “both the lease assumption and agreement and the restated lease” in a new deal with the city of Marquette.

“The Marquette city commission meets on November 27, 2017 where it will likely approve signing” an updated lease,” an attorney for the YMCA wrote.
The lease will affect early $3 million debt to the United States Department of Agriculture—Rural Development authority. The details are not clear if – and how – that federal debt can be renegotiated.

YMCA of Marquette County Chief Executive Officer Jenna Zdunek

While the YMCA did not get an emergency hearing – there will be a telephone hearing just hours before the Marquette City Council is set to meet.

The judge set the telephone conference for Nov. 27, 2017 rather than hold a fast emergency hearing – following YMCA “debtor’s motion for an expedited hearing to assume lease of executory contracts with the city of Marquette.”

The case in in the hands of U.S. District Court Bankruptcy Judge John T. Gregg.

“The motion to shorten seeks to reduce the notice period in connection with the debtor’s stipulated
motion for order authorizing debtor to assume lease” and to “enter into restated lease agreement with the city of Marquette,” Judge Gregg wrote last week in a Monday, Nov. 13 ruling.

“The court has reviewed the motion to shorten and finds that a hearing is unnecessary. The motion to shorten demonstrates cause for reduction of the notice period … but not to the extent requested by the YMCA for an “emergency hearing in less than seven days”

The day after that ruling (last Tuesday, Nov,. 14, 3027) the court clerk notified the YMCA attorneys they had filed paperwork considered a defective entry or filing.”

Clerk of Court Daniel M. LaVille wrote:

Notice is hereby given that document #: 195 is defective for the following reasons:

• Incomplete PDF document attached to the entry.
• Entered in the wrong case.
• PDF document is not legible.
• Incorrect Form Submitted (Official forms are located on the Court’s website at: http://www.miwb.uscourts.gov)
• The amended schedules do not conform to LBR 1009 − Nothing has been highlighted in some fashion indicating what’s being amended.

“Please review this rule before filing amendments,” the clerk wrote in the official notice.

The YMCA were told to amend the YMCA documents – and they were quickly refilled.

Then more information on the YMCA debts was revealed in a “notice of amendments to affected parties” by YMCA Grand Rapids, MI bankruptcy attorney P. Michael Azzi.

Here is some of the information released in the amended documents – read the entire 34 pages by clicking here or scrolling down:

The federal documents:

YMCA Mqt 11-14-17 Notice of Defective Entry or Filing against YMCA

YMCA Mqt 11-14-17 Notice of Amendment to affected parties owed money by Y

YMCA Mqt 11-13-17 Judge grants motion to expidite new Mqt lease

YMCA Mqt 11-8-17 Bankruptcy petition

YMCA Mqt 5-5-17 proof of service to those owed refiled 11-14-17

YMCA Mqt 5-5-17 Motion to speed up Mqt lease effort refiled 11-10-17

YMCA Mqt 5-5-17 Judge OK speed up motion refiled 11-10-17

YMCA Mqt 5-5-17 judge grants debtor motion

YMCA Mqt 5-5-17 debtor motion

YMCA Mqt 5-5-17 City of Mqt Lease Order refiled 11-10-17

YMCA of Marquette County Chief Executive Officer Jenna Zdunek

http://www.ymcamqt.org

https://www.facebook.com/ymcamqt/

https://twitter.com/mqtyswim

https://www.teamunify.com/Home.jsp?team=mimckw

https://www.instagram.com/mqtyswim/

https://www.teamunify.com/SwimtodayLandingTu.do?act=new&team=mimckw

http://www.SwimToday.org

http://www.ymcamqt.org/programs/childhood-development.html

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https://www.usnews.com/news/best-states/michigan/articles/2017-05-06/marquette-county-ymca-saddled-with-debt-files-bankruptcy

http://www.mlive.com/business/west-michigan/index.ssf/2017/05/upper_peninsula_ymca_chapter_f.html

https://www.yelp.com/biz/ymca-of-marquette-county-marquette

https://www.linkedin.com/jobs/ymca-of-marquette-county-jobs-marquette-mi/