Ipic delray movie#
Ipic delray pro#

Photo by Ben Hershey on UnsplashĪ previous commission sued the company, claiming that the 2005 contract was invalid.

Ipic delray pro#

On the agenda for today’s meeting is a proposed settlement between Delray Beach and Match Point, promoter of the annual pro tennis tournament. I would expect the issue to come up during today’s Delray Beach City Commission meeting. People in Delray Beach and Boca Raton want to know what RSA plans to do with its new assets.

Ipic delray movie#

“You’ve got the Rolls Royce of movie theaters in these huge towns.”

“It’s not like buying a beat-up car or a beat-up house,” he told the Montgomery Advertiser. When IPIC filed for bankruptcy protection, CEO David Bonner didn’t seem worried about RSA’s investment. The owner is a Boston-based company called Delray Beach 4 th & 5 th Avenue LLC. Neither Hashemi nor IPIC owns the site and the building. Delray Beach also recently allowed IPIC to add a rooftop bar. The company would have taken roughly half of the project’s Class A office space. Delray Beach officials especially will want to know who’s making decisions, since Hashemi had pledged to move IPIC headquarters from Boca Raton as part of the Fourth and Fifth project on Atlantic Avenue. Holdover management has been operating IPIC. The new company, the release said, “will have a solid financial foundation” and “opportunities for strategic growth.” In a statement, the company said, “IPIC will continue to be a pioneering brand, leading the frontier or luxury moviegoing entertainment and unparalleled destination dining.”Īs of Monday, the company had not named a CEO. Another had been planned for downtown Fort Lauderdale. After filing for Chapter 11 in August, IPIC has continued to operate its 15 theaters-including one in Boca Raton and another in Delray Beach. The release said IPIC Theaters LLC “acquired substantially all of the operating assets of the affiliated debtors” through a bankruptcy court hearing in Delaware. For perspective, RSA’s portfolio is roughly $43 billion. Under Hashemi, RSA had been IPIC’s largest creditor at roughly $200 million. Hunter Harrell, RSA’s director of private placements. It oversees the pensions of thousands of state employees and the related investment funds.

The new owner is the Retirement System of Alabama (RSA), based in Montgomery.

State records show that the company was created on Nov. A new IPIC has emerged from the company’s bankruptcy filing, and it doesn’t include founder Hamid Hashemi.Īccording to a Monday press release, that new company is IPIC Theaters LLC.