Trying to find its way out of a financial morass, the Montreal Outgames has filed for protection from its creditors, according to The Montreal Gazette.
Filing for protection under the federal Companies' Creditors Arrangement Act temporarily protects the Outgames from being forced into bankruptcy or being sued for payment.
A governmental audit has reported the Outgames recorded a deficit of $5.3 million, of which $2.2 million was owed to suppliers. The remainder consists primarily of government loans. ( Taxpayers took about a $3.2-million hit, and among the individual stars who have not been paid is tennis icon Martina Navratilova, who is still owed half the $39,384.32 promised to her. )
More than 10,000 people took part in the 2006 Outgames, which took place a week after Chicago's Gay Games. The next Outgames is scheduled to take place in Copenhagen, Denmark, in 2009.
