VivaTysons Magazine filed for bankruptcy last month after running up hundreds of thousands in debt, but the publication is now seeking to have its case dismissed.
An attorney for VivaTysons filed a motion asking a federal bankruptcy judge to dismiss the Chapter 11 case, arguing VivaTysons can better function and pay its debts outside of the bankruptcy process.
Among other reasons for exiting bankruptcy, the filing says an unnamed magazine competitor tried to use the bankruptcy to poach advertising clients from VivaTysons. (For the record, it wasn’t us. -Ed.)
From the filing:
The Debtor seeks to dismiss its case “for cause” for the following reasons: (i) the Debtor believes that it is losing essential advertising revenue as a result of its filing for bankruptcy; (ii) the Debtor is experiencing difficulty complying with the administrative burdens of chapter 11; and (iii) the Debtor is hopeful that it can achieve settlements with its creditors outside of bankruptcy. The Debtor believes its creditors will obtain a greater dividend outside of bankruptcy than pursuant to a plan in the bankruptcy case.
After the Petition Date, at least one of the Debtor’s competitors contacted the Debtor’s advertisers and falsely stated to the Debtor’s advertisers that, as a result of the bankruptcy filing, the Debtor was “closed.” The Debtor’s competitor used the bankruptcy filing and alleged “closing” to implore the Debtor’s advertisers to advertise in the competitor’s magazine instead of the Debtor’s magazine. The Debtor believes that it has lost essential advertising revenue because of the actions of its competitors as a result of the bankruptcy filing.
VivaTysons says in the filing that it owes four small business lenders and banks more than $250,000 collectively. It also owes money to its printing company, the printing company’s owner and potentially two other financial companies. The parent company of Washingtonian Magazine also filed a claim, saying it is owed $50,000 by Tysons-based Johnny Hanna & Associates, which owns VivaTysons.
VivaTysons is published every other month. It is mailed to readers and distributed to local businesses in Tysons, McLean, Falls Church, Vienna, Great Falls and Oakton.
An FCPS employee gets vaccinated against COVID-19 at an Inova clinic in January 2021 (photo by Karen Bolt/Fairfax County Public Schools) Fairfax County is looking for artists to contribute to…
Big Buns Damn Good Burgers is now open in McLean (staff photo by Angela Woolsey) Big Buns Damn Good Burgers has arrived in McLean. The regional burger chain opened its…
A music festival celebrating LGBTQ artists is coming to Wolf Trap National Park for the Performing Arts this summer. In its first programming announcement for the upcoming season, the Wolf…
Vienna police SUV (via Vienna Police Department/Facebook) Police from three different jurisdictions are on the lookout for suspects in an armed carjacking reported in Vienna Saturday night (Jan. 28). An…
Chris Green is one of the DMV’s finest fitness instructors. A Lululemon and South Block ambassador, he is a coach and mentor to so many. He embodies grace, positivity and motivation in ways that no one else can. If we could all learn a thing or two from him, the world would be a much better place. He does so much for others, and does so with a smile on his face 99% of the time.
He recently ruptured his Achilles and has an incredibly long and tough journey ahead. As if COVID hadn’t impacted fitness professionals enough, throw this in the mix and it’s a double, even triple whammy. CG is no longer able to work and do what he loves for the time being because of this and we’d love your support.
The Rhea Baker State Farm Agency is proud to support Shelter House in providing safe places to be during quarantine. Shelter House’s mission is to prevent and end homelessness and domestic violence. Right now they are providing over 200 hotel rooms to those in need in our community. In the past year, across all programs, Shelter House served nearly 500 households comprised of over 1,500 individuals, 60% of which were children.
Of the households that exited shelter, over 70% moved to permanent housing. The Baker Agency has served Vienna and Tysons residents and business owners since 2007 and proudly offers insurance solutions for you home, condo, auto insurance, life insurance and more. We offer complimentary reviews and coach teen drivers to safer, better drivers, and to help keep your auto insurance rates down! We are always happy to talk or text at 703-847-6880.