Request to rehear bankruptcy case from Civic Partners denied - KTIV News 4 Sioux City IA: News, Weather and Sports

Request to rehear bankruptcy case from Civic Partners denied

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SIOUX CITY, Iowa (KTIV) -

A federal appeals court has denied a request to rehear a bankruptcy case from Civic Partners, the company that helped build the Promenade Theater building in Sioux City.

The request stems from a March court ruling in which the justices of the 8th U.S. Circuit Court of Appeals dismissed a bankruptcy appeal by Civic Partners, saying it wasn't within it's jurisdiction.

Civic Partners asked that the court rehear it's arguments, either as a full court, or as a panel.

The court denied both requests.

In 2003, Civic Partners received a 5-point-6 million dollar bank loan to build the Promenade complex and retail space.

Ten years later, a judge denied a Chapter 11 bankruptcy protection plan filed by the company.

That same year, Sioux City leaders voted to pay 300-thousand dollars a year through 20-18 to settle a promissory note it guaranteed for Civic Partners.

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