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The Rose Garden bankruptcy occurred in 200 … The Rose Garden bankruptcy occurred in 2004 when the Rose Garden in Portland, Oregon was the subject and primary asset in a bankruptcy filing, shifting ownership of the arena from billionaire Paul Allen to a consortium of creditors. Allen, who owns the arena's primary tenant, the Portland Trail Blazers of the NBA, financed the arena's construction in 1993 with a US $155 million loan on what Allen's representatives later characterized as unfavorable terms. As a result of the bankruptcy, the Rose Garden was operated by its creditors for over two years, during which Allen and the creditors briefly offered the arena for sale. By April 2007 the Rose Garden was once again owned by Allen.Rose Garden was once again owned by Allen.
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The Rose Garden bankruptcy occurred in 200 … The Rose Garden bankruptcy occurred in 2004 when the Rose Garden in Portland, Oregon was the subject and primary asset in a bankruptcy filing, shifting ownership of the arena from billionaire Paul Allen to a consortium of creditors. Allen, who owns the arena's primary tenant, the Portland Trail Blazers of the NBA, financed the arena's construction in 1993 with a US $155 million loan on what Allen's representatives later characterized as unfavorable terms. later characterized as unfavorable terms.
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