Could Copia’s bankruptcy case be finalized before the one-year anniversary of the center’s closure? It might be close.

The downtown Napa center for food, wine and the arts closed abruptly in November. On Friday, U.S. Bankruptcy Judge Alan Jaroslovsky scheduled the center’s final hearing for Oct. 27 in Santa Rosa.

Most of Copia’s creditors and bondholders, as well as its bond insurer and management team, seem to favor a resolution allowing a sale of Copia’s assets to the highest bidder. That would pave the way to paying former employees their back wages and offering other creditors an estimated 13 cents on the dollar for what they are owed.

“The plan has been accepted by an overwhelming majority” of the Copia bondholders and creditors, Copia attorney John MacConaghy said.

While 93 percent of the bondholders that voted accepted the joint plan, there were a few dissenters.

One is Copia Claims, a firm formed specifically to enter into the bankruptcy case. It bought the debt of another Copia creditor for $4,000, and so it has a voice in the outcome of the case.

Jaroslovsky, who has been highly critical of Copia Claims and its counsel in the case, remained unreceptive Friday, saying it would be “ludicrous to hold up the entire process for a $4,000 claim.”

Copia Claims also questioned the validity of the bondholder voting process, citing a clerical error on some ballots and contesting other plan provisions. Again, Jaroslovsky disagreed.

“I’m not likely to confirm a plan that contains an improper provision,” he said.

Separately, an attorney for the California Department of Parks and Recreation, which granted Copia more than $1 million in 2003, voiced concerns about the plan. But the attorney, Michael Neville, indicated he felt confident an agreement could be arranged between Copia and his client by Oct. 27.

The agency gave Copia more than $1 million for historical and educational resources six years ago. Those exhibits included a greenhouse, children’s garden, community garden seating area, garden activity station, garden signage and promenade. With Copia closed, the state hopes to reinstall the exhibits at another location, possibly Connolly Ranch in Napa. 

‘Sitting empty’

At Friday’s hearing, Jaroslovsky said he was thinking of Copia’s building and grounds, shuttered for the past nine months.  

“The only thing I’d like to see come out of this is some kind of use for the facility, which is sitting empty in downtown Napa,” Jaroslovsky said. “It’s a shame.”

John Salmon of the Coalition to Preserve Copia, a group of local investors hoping to breathe new life into the 12-acre site,  expressed disappointment that the court calendar didn’t allow the case to be heard sooner than Oct. 27.

“Unfortunately, it looks like the building might stay vacant for many more months,” Salmon said.

The Oct. 27 hearing date also delays payment to more than 20 former Copia employees owed wage and vacation pay, as well as consumers who paid deposits for Copia classes and events.

Once the liquidation plan receives approval, it appears likely that Copia bond insurer ACA Financial Guaranty Corporation will seek bids on Copia assets.

ACA representatives said they were unable to comment for this story.

But on Aug. 7, the Facebook page for Coalition to Preserve Copia noted that representatives of ACA indicated to the coalition that the bond insurer would prepare a bid proposal for developers. It’s unclear if or when such a proposal would be readied and who would offer a response to the bid, formally known as a request for proposals (RFP).

Said Salmon, “The coalition is not in a position to determine what it will do if and when the RFP is issued and, therefore, has not made a decision as to whether it will respond.”

A class action lawsuit filed by Copia Claims alleging fraud and securities violations remains active in the U.S. District Court in Sacramento.