Shareholders give Montana Club board OK to sell assets
Shareholders of the Original Montana Club Cooperative Association have given their board the authorization to sell all assets of the financially st...
Shareholders of the Original Montana Club Cooperative Association have given their board the authorization to sell all assets of the financially strapped historic downtown Helena landmark in order to stave off debt and to deal with a pending bankruptcy filing. The vote Wednesday night in the sixth floor dining room was unanimous from the nearly 35 people present plus 17 proxies from among about 480 shareholders. On Aug. 22, members authorized its board to file for Chapter 11 bankruptcy in an effort to allow them to reorganize, negotiate with creditors and preserve the historic but financially strapped club in Helena's downtown.