Thursday, April 02, 2015 - 2:34:58 AM

Local News

Print Friendly | Bookmark and Share

B-Sens not affected by B.S. Quarries foreclosure

SUSQUEHANNA COUNTY, PA -- A Writ of Execution and Money Judgment has been issued against B.S. Quarries, Inc. after defaulting on a $16 million loan.  B.S. Quarries, Inc. is owned by Tom Bolles and Tim Smith who are also co-owners of the Binghamton Senators.  According to Scott P. Schectman, Esquire, the Attorney for the plaintiff WM Capital, WM Captial purchased the loan from M&T Bank and is now seeking to acquire personal property and business assets to pay the judgement.

Tom Mitchell, Vice-President of Operations for the Binghamton Senators and minority owner, wished not to comment on camera, but tells Fox 40 that this judgement will not affect the team.  Mitchell says according to the Constitution of the American Hockey League, a team cannot be used as collateral for other businesses and assets.  In regards to the foreclosure of the quarries affecting funding to the team, Mitchel assures that the Binghamton Senators franchise was "bought and paid for a long time ago," and is self-sustaining at this point.

Mitchell said he was aware of financial problems, but not the extent and would not comment further.  He added that he has not heard any concern over anyone wishing to sell their share of the team.  Mitchell assures Fox 40 and the Binghamton Senators fan base that the B-Sens will be around for a long time to come.

VIEW VIDEO

View Related Articles: PA, B-Sens or comment on this one below.

blog comments powered by Disqus


Back Back

News system programming and website hosting by EFX internet  EFX internet


Additional Articles


Charge Against Former Binghamton Mayor may be Dismissed VIEW VIDEO
The harassment charge against former Binghamton Mayor Matt Ryan may be dismissed.     The charge stems from an allegation last August that Ryan got into an altercation with Vic Furman of Chenango... more

Broome County Sheriff's Get Ready To Use Body Cameras VIEW VIDEO
35 body camera's have been issued to patrol officers in Broome County.     The taser axon cameras, the docking station and data storage cost the department $50,000 dollars but it's a tool... more

Town of Union Officials Looking for Input on How to Spend Grant Money VIEW VIDEO
The Town of Union held a public meeting Wednesday night at Town Hall.     Officials were looking to gather input on how the town should use grant money its receiving over the next 5 years from... more

Local Hospital Teams Up With Food Bank To Fight Hunger VIEW VIDEO
UHS Hospital is teaming up with the Food Bank of the Southern Tier to stop hunger.     On Wednesday UHS Wilson Medical Center hosted it's 11th annual "empty bowls" event. For a 25-dollar donation... more

Lacing Up for a Healthier Heart VIEW VIDEO
According to the Centers for Disease Control, heart disease is the leading cause of death in both men and women with over 600,000 people dying from it each year.     So officials from the... more

Defense Begins Calling Witnesses in Cal Harris Trial VIEW VIDEO
The state rests its case and the defense team calls its first witnesses Wednesday in the trial of Cal Harris. This is the third trial for the Town of Spencer man who is charged with the death of... more

2015-2016 NYS Budget to Invest in Education and Ethics VIEW VIDEO
The $142 billion state budget has been passed, and Governor Andrew Cuomo says it invests in two fundamental issues--education and ethics. The governor says this year's budget raises state... more

Click here for more local news...icon

ADVERTISEMENT

ADVERTISEMENT

 A News Story

If you are looking for a copy of a news story that we recently aired, simply click here to find out how.

Breaking News

Do you have a tip or information about a breaking news story? Contact the FOX 40 News Desk at 607.798.0070 or send us an email .




Share to Facebook Share to Twitter Stumble It More...