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anyone here about this? i was just speaking with a friend that heard they were auctioned off at a Sheriffs auction and the place was closed. i guess they did not pay their bills and owed $ all over town.
this is all 2nd and 3rd hand info so don't take it as fact.
have any of you guys heard about this?
 

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Easy enough to get info on subjects like this... The local news paper on-line search.;)

I found this from the ShawanoLeader web site:
http://www.shawanoleader.com/articles/2006/02/05/news/news2.txt
Midwest amusement park pays off creditors

By Tim Ryan, Leader Reporter
Just days before it was scheduled to be sold off due to delinquent debts, Midwest Amusement Park saved itself from foreclosure Thursday by paying off its creditors.

Ronald Metzler, an attorney for Northeast Asphalt, Inc. of Green Bay, said his client and two other creditors who had liens against the property were paid on Thursday.

Midwest was ordered to pay $380,817 to Northeast for work done on the park’s USA International Raceway. The judgment also entitled Northeast to a construction lien foreclosure.

A Shawano County Sheriff’s Department sale of the property, at W5901 County Road BE in the Town of Wescott, had been scheduled for this Wednesday.

Midwest Amusement Park and USA International Raceway are subsidiaries of the R.C. Samanta Roy Institute of Science and Technology. SIST and its subsidiaries have purchased nearly $12 million worth of property in the area with intentions of supporting a future international boarding school in the Town of Wescott.
 

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It wasn't tax problems that forced this most recent action. The paving contractors filed a lien against the track for non-payment, and were able to force a foreclosure/sheriff's sale.

The Foundation seems to be able to generate cash when they need it, they keep buying other businesses in Shawano, they just play the game of waiting to pay until they're forced into it.

I'm not at all surprised they paid off the liens just in the nick of time.

I'm also glad they did!
 
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