Credit portal




'We did everything we could have done:' Halifax Rainmen file for bankruptcy

when did enron file for bankruptcy

The city's pro basketball team has officially run out of funds.

The Halifax Rainmen filed for bankruptcy Monday morning, according to a news release issued later in the day by a local PR firm, which told Metro that franchise owner Andre Levingston wasn't available for media interviews on the matter.

But Levingston, who helped get the National Basketball League of Canada franchise off the ground, did state in the release that he is "incredibly proud of what the Halifax Rainmen have accomplished over the past eight years."

During the 2014-15 season, the Rainmen made it to the NBL Canada's championship series, despite financial strain and the fact that coaching staff and players decided not to show up for the seventh and final game, citing safety concerns on and off the court.

"While it’s disappointing to

see this chapter end, I can hold my head high knowing that we did everything we could have done," Levingston said.

Calls to legal firm Grant Thornton, which is acting as trustee for the bankruptcy claim, also went unreturned Monday.

"We heard rumours about money getting tight," point guard Cliff Clinkscales said Monday. "But we didn't know how true it was."

The $90,000 worth of fines incurred by coaches, players and the club itself "for conduct detrimental to the league" during the championship fiasco didn't help finances.

Clinkscales hopes another owner steps up "to keep the team there."

League commissioner David Magley said in Monday's news release that he is "personally confident that there will be an NBLC team in the great city of Halifax and that a team will play (next) season."

Category: Bank

Similar articles: