In A.C., Two Reasons This Is PersonalAugust 16, 2015 – In The News
Michael Viscount was featured in The Philadelphia Inquirer article “In A.C., Two Reasons This Is Personal.” Full text can be found in the August 16, 2015, issue, but a synopsis is below.
In Atlantic City, there can be hard feelings towards presidential candidates Donald Trump and Chris Christie, because the community has been so dependent on the two. When Trump pulled his casinos out of A.C., there were more than 1,100 job losses and billions unpaid. In many instances, it was the little people who were left unpaid.
Michael Viscount represented three large unsecured creditors, including A.C. Coin & Slot, which were all paid in full after forming an "unsecured creditors committee," which can be a potentially powerful party to a bankruptcy. But many other creditors were left collecting just pennies on the dollar.
"Anybody who did any business with any of his casinos got beat one way or another," Viscount said. "Plumbing or heating, roofers, window people."