Chicago Pipe Show 2020 Plans
- Thread starter winton
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This is what I find curious. Since the owners are not in a position to guarantee their end of the agreement, and any succeeding owners may not be bound by prior agreements, on what basis is there a valid contract? Since Pheasant Run cannot perform they should return any deposit they have received, which would allow the organizers to secure and announce an alternative location sooner.
I am not a lawyer.
I was thinking of law school but decided against it.
My mother is though ?. Want me to ask her?
I guarantee she would say it’s fairly obvious they have already breached the contract. They are telling callers it’s not being held at Pheasant Run when they call!
Best of luck to everyone!
I see Jesse mentioning a deposit. If there is a deposit I am guessing the return of said deposit is the main worry of the organizers at this point. Wouldn’t that have been paid to the previous owners? Deposit may be AWOL.
I was thinking of law school but decided against it.
My mother is though ?. Want me to ask her?
I guarantee she would say it’s fairly obvious they have already breached the contract. They are telling callers it’s not being held at Pheasant Run when they call!
Best of luck to everyone!
I see Jesse mentioning a deposit. If there is a deposit I am guessing the return of said deposit is the main worry of the organizers at this point. Wouldn’t that have been paid to the previous owners? Deposit may be AWOL.
Probably so but the pipe club isn't going to tell Pheasant Run to fuck off if they're still waiting to get their deposit back.
Me? Nope. But I have 40 years of negotiating contracts between myself and various studios, as well as representing my studio in negotiation with other studios, and more recently contracts related to the real estate development I've partnered in. So this isn't exactly a mystery. Are contracts under illinois law devoid of requirements regarding the ability to perform?
Guys, this supposition is fruitless. There are folks looking into this from every possible angle. They are the same people who have built up a planned this event for the last 20+ years and deserve our trust to be just as, if not more so, concerned about hosting a successful event.
I share everyone's concern and frustration with the apparent pace of information reveal, but have decided to take the organizers word that everything that can be done is being done and we will be told as soon as there is something to say.
I share everyone's concern and frustration with the apparent pace of information reveal, but have decided to take the organizers word that everything that can be done is being done and we will be told as soon as there is something to say.
I'm a business attorney. I don't know the particulars of this contract or IL law, but in general, when you buy a business, you either buy the assets of company to use in your own company moving forward (asset sale), or you buy the actual company, assets and liabilities. (Basically, you buy the owners out, whether that be shares, ownership interest/equity, whatever.) A contract is a type of asset. In this case, for example, it's incoming future revenue. If you were buying a hotel, wouldn't you want details of all future bookings, to help you determine value?
Carefully and competently drafted contracts address its transferability, by either party. It's not uncommon that a transfer to a new owner occurs automatically. Hypothetically for PR, in the case of a change in ownership, "Pheasant Run" may still exist as a company and hotel, albeit with new owners. As a contracting party, they would still be committed to leasing out space to the pipe show. If so, the pipe show cannot simply tell them to screw off. There could still be a valid contract to be honored by both sides. We cannot say that "Pheasant Run cannot perform" because it's entirely possible that the new owners who are carrying on as PR intend to.
This is just one possibility. The contract may give PR, the new owners, or both, the right to cancel under a change of ownership. Or it could be an asset sale, and the new owners choose not to "buy" this contract. We simply don't know. If this is a bankruptcy issue, then it could get even more complicated. '
But this is all hypothetical based on what few facts we know posted on an Internet forum.
Just blame the lawyers. It's what I always do.
Carefully and competently drafted contracts address its transferability, by either party. It's not uncommon that a transfer to a new owner occurs automatically. Hypothetically for PR, in the case of a change in ownership, "Pheasant Run" may still exist as a company and hotel, albeit with new owners. As a contracting party, they would still be committed to leasing out space to the pipe show. If so, the pipe show cannot simply tell them to screw off. There could still be a valid contract to be honored by both sides. We cannot say that "Pheasant Run cannot perform" because it's entirely possible that the new owners who are carrying on as PR intend to.
This is just one possibility. The contract may give PR, the new owners, or both, the right to cancel under a change of ownership. Or it could be an asset sale, and the new owners choose not to "buy" this contract. We simply don't know. If this is a bankruptcy issue, then it could get even more complicated. '
But this is all hypothetical based on what few facts we know posted on an Internet forum.
Just blame the lawyers. It's what I always do.
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You sound entirely too level-headed for this group. Half the fun of a forum is the wild speculation about a future blend release or pipe event, even if it proves to be completely wrong. I see nothing wrong with playing armchair attorney while smoking one's pipe.
I read where several people called PR and were told by the staff answering the phone there would be no Pipe Show. I don't care to speculate on the contract. I trust what is being said from the people that do know and am planning on attending.
Both my grandfathers were lawyers, so I respect that profession in a provisional way, but I remember what Dickens said: "Lawyers keep trouble so trouble will keep them." That's from Bleak House, and he may have said "solicitors" in the English way.
Welp, after reading through this page it’s time for a pipe. I thought the issues were being resolved. I was considering going to the Chicago Show, but it looks like I might have to wait until the West Coast Pipe Show (which is awesome, and I encourage everyone to go).
What makes you think there’s gonna be new owners and anyone would want to buy the place ?
It's a chunk of land that can be developed. Somebody will buy it if the numbers make sense. I wouldn't assume that Pheasant Run would not be bulldozed to make way for a condo development or a mixed use living/shoping development. But someone might decide that Pheasant Run could be run for a profit, maybe converted to an educational facility, and not demolish it. As has been pointed out, it's all speculation and a better idea may emerge sometime at the middle of next month, assuming there's an auction.
It seems improbable that this can get remedied in time to hold the event at the Pheasant Run. The auction doesn't end until February 12th. I'd assume that there would be some kind of escrow period that would take place after that. Maybe it's 30 days? So it could be mid-March before the new owners officially take over. And then I can't imagine that the new owners first order of business would be to figure out if they should have a pipe show in May . . .
I am glad the hard-working men running this have identified alternate locations. The planner in me just wishes I knew more so I'd feel more comfortable forking over a thousand bucks for airline tickets.
I am glad the hard-working men running this have identified alternate locations. The planner in me just wishes I knew more so I'd feel more comfortable forking over a thousand bucks for airline tickets.
I think correctional facility is more likely.
They actually did try to develop the land into mid-rise apartments; a real estate play was apparently the intent of the current owners when they bought the property. But a combination of villagers with pitchforks (unhappy at the idea of increased population density and the impact on local schools etc), and more importantly an irritated neighbor with money and local clout (the local airport), put the kibosh on that idea.
Here's an excerpt from an article published in 2016:
Earlier this year, the airport authority filed a condemnation lawsuit to take over the entire resort, according to the Daily Herald. This lawsuit came shortly after the resort announced it would turn its golf course into housing. The future of the golf course remains uncertain but a loose agreement reached in recent months will keep the part of the Pheasant Run that functions as a resort in the control of the property owners, the newspaper reports.
So for the last few years the ownership group has been stuck with a somewhat seedy "resort" that would cost a mint to seriously upgrade; and even if they were able and willing to invest the capital, who's to say this is a case of "if you build it they will come"? Not a risk I'd care to take with my money.
As for playing a waiting game regarding the venue of the show, I'm hopeful but candidly not overly optimistic, if that makes any sense. I can't help but feel that with the end of January just ahead, every week that passes without resolution will generate some attrition among the potential exhibitor and attendee population.
Geez, with a stellar history like that you would think the potential buyers would be lining up to bid. Maybe the airport authority will take it over, or some 29 year old hedge fund trillionaire who's wanted to be a hotelier since he was 28, and doesn't care about making a profit.
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