Norman E. Rothstein, a respected veteran Broadway general manager and producer, was elected Tuesday, July 22, by creditors of the bankrupt Circle in the Square, as the new trustee "to oversee and guard the assets" of the theatre company as they seek financial redress and the sale of CIS.
In December, 1996, Rothstein was approved by the U.S. bankruptcy court as business and financial consultant to the unsecured creditors, the bulk of whom are the pension and trust funds of theatrical unions.
The meeting was held in the Department of Justice offices of U.S. Trustee Carolyn Schwartz at 80 Broad Street. The vote was unanimous. Rothstein will replace bankruptcy attorney Alan Nisselson, who had been operating trustee.
Thursday, July 24, attorneys for the creditors committee will formally petition Tina L. Brozman, chief judge of the U.S. Bankruptcy Court in New York, opposing master lease holder Thespian Theatre, Inc., which is leasing CIS premises to the Circle in the Square Theatre School and the school's subsequent sub-lease of the premises to CIS.
-- By Ellis Nassour