BSCAI Files Chapter 11 Reorganization
The below letter was distributed to all BSCAI members by Moe Desmarais, Executive Vice President.
Recently, Building Service Contractors Association International (BSCAI) has made an important decision of which I would like to make you aware. Our association has filed Chapter 11 reorganization in order to facilitate organizational growth and drive value to the core of this association– our members.
Reorganization is a business tool granted by the U.S. Government made for groups and businesses just like BSCAI. The current Board of Directors feels that filing reorganization is best possible option to preserve and manage the organization’s assets and will enable BSCAI to develop and fund programs that provide value to members and a tangible return on a member’s investment.
The decision to reorganize was precipitated by the inability to negotiate or sub-lease the former headquarters office space lease in Fairfax, Virginia, on acceptable terms. The lease payments were consuming BSCAI’s financial resources without providing value to you, our members, and vendors or sponsors.
BSCAI will continue to operate with professional association management staff from SmithBucklin under the direction of the BSCAI Board of Directors and will provide the same high-quality benefits and services you have come to expect from BSCAI, including our Annual Convention & Trade Show in Chicago, March 6-9, 2009.
In addition, BSCAI will continue to develop new partnerships, programs and services that benefit its members and the industry at-large.
BSCAI will be hosting a teleconference on Friday, October 10, 2008 at 12:00pm Central Standard Time. You may dial toll free to 866-642-1665 and use with passcode 991048. This is a call to answer any questions you may have. Please logon to www.bscai.org to keep up to date on BSCAI’s progress and to view materials related to this letter. We want to make sure that you, our member is constantly informed about the business of your association.
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