More Legal Trouble for Prospect Park: Owes ABC $1.7 Million

Prospect Park Logo
Prospect Park Logo

As reported last night, Prospect Park, the company behind in trying to rebuild and resume “All My Children” and “One Life to Live,” filed for a Chapter 11 bankruptcy. Now, The Hollywood Reporter is stating that it is facing more problems. Prospect Park owes ABC $1.7 million.

In the bankruptcy filing, Andrew Kurth, the law firm representing Prospect Park, is owed $750,000, while the law firm of Lavely & Singer is owed more than $112,000. Prospect Park lists about $50 million in assets, and $10 million in liabilities. It also owes money to the Screen Actors and Directors Guild, with a combined total of over $140,000. Erika Slezak, who played the matriarch Victoria Lord on “OLTL,” is also owed $205,000.

Previously, Prospect Park filed a lawsuit against ABC seeking $95 million in damages, and declared to have the licensing fees be excused under the agreement as well as be tolled. ABC tried to counteract those demands, but a judge denied the alphabet network’s motion.

According to THR, ABC was able to file an extension in answer to the Prospect Park lawsuit, and a possible cross-complaint could be on its way.

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