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Copia Creditor Holds Up Bankruptcy While Don Fisher Bows to Presidio Trust’s Changes

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Another couple of quicke follow-ups to some on-going stories. First, there’s more to hubbub about the Napa-based museum, Copia, which unexpectedly shut its doors the day after Thanksgiving. Now that they’ve officially filed for bankruptcy, they’re running into the usual snag with creditors trying to block the filing, essentially saying, “Hey, wait! What about all those millions you owe us?!”

Copia hopes to sell its real estate and lease the facilities back for its programs. Copia’s Interim CEO Garry McGuire says ACA is trying to avoid paying out $40 million or more it may be liable for.

Second, elsewhere in California, there’s been some additional movement on the Don Fisher vs. The Presidio Trust battle over where he can build his museum. Fisher has agreed to make the whole thing smaller, and to avoid having to demolish a bunch of public buildings, which had a slew of people mad at him for last week. This last round has apparently appeased a number of the detractors, so we’ll sit and wait to see if any momentum starts up again with the project.

“I think (Fisher) has heard the public loud and clear, and he’s very committed to the Presidio and to the project,” [spokesman Alex Tourk] said. “His team will go back to the drawing board and work with key stakeholders to put forward conceptual designs that we hope will meet the approval of all involved.”

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