The Original Montana Club Cooperative Association has filed a Chapter 11 bankruptcy voluntary petition, a move that members said will buy them time to deal with financial challenges, reorganize and allow the longtime iconic downtown social and dining establishment to remain open.
The Montana Club at 24 W. Sixth Ave. in downtown Helena.
Phil Drake, Independent Record
The petition, commonly called a “reorganization bankruptcy,” was filed Wednesday in U.S. Bankruptcy Court for the District of Montana in Butte. According to USCourts.gov, debtors usually “propose a plan of reorganization to keep its business alive and pay creditors over time.”
The club cooperative has said earlier it would be taking such action and paid $1,738 to file for Chapter 11. The club has retained attorneys James A. Patten, Molly S. Considine and the Patten, Peterman, Bekkedahl & Green PLLC Law Firm of Billings.
Ramon Mercado, secretary of the cooperative association, told members of Hometown Helena, a grassroots group of residents, about the filing early Thursday at a meeting on the sixth floor of the club at 24 W. 6th Ave.