Attorney Jeffrey Weston Shields Handles Dissolution of Park City Jazz Foundation
After many years of serving on the board of the Park City Jazz Foundation, Jones Waldo attorney Jeffrey Weston Shields has been asked to handle the dissolution of the organization.
The Foundation was formed in 1997 by Lew and Arlene Fine to produce the Festival as a summer destination event in Park City. The Foundation appreciated the support of Festival title sponsor Fidelity Investments through 2007. However, the inability to replace the generosity of Fidelity Investments with a new title sponsor was a major contributing factor to the Foundation's dissolution. Jones Waldo has also been a long-time sponsor of the Foundation.
"From my vantage point as a senior bankruptcy lawyer, I have never seen nonprofits under so much economic stress," said Shields, who is a senior shareholder and chairman of Jones Waldo's Bankruptcy/Creditor Rights Practice Group. "Unfortunately, many, like the Park City Jazz Foundation, will not survive."
Deseret News article, "Park City Jazz Foundation closes its doors; annual festival to end."
Utah Pulse article, "Park City Jazz Foundation Files for Dissolution."