One report says the U.S. Bankruptcy Court for the District of Arizona appointed Shaffer, of Clotho Corporate Recovery, as Bondurant’s chief restructuring officer. Another report says that Bob and his wife, Pat Bondurant, hired Shaffer, who was then approved by the court. Shaffer, with more than 25 years of experience helping companies in Chapter 11, takes over managing the day-to-day business of the school and the search for investors or buyers. Bob and Pat will act as consultants.
In a press release touting the reopening after a “brief disruption,” Shaffer said, “We’ve already begun working on restructuring initiatives that will help stabilize the school’s financial position. Our collective goal is to return the company to normal operations and ensure the school is a part of our local and national racing communities for many years to come.”
Within the allowances of bankruptcy proceedings, students who had their time cut short during the closure can rebook, all future classes will be honored, and the facility will still hold the 2018 Road to Indy $200,000 Scholarship Shootout this month.