The Hualapai tribal corporation that managed the Grand Canyon Skywalk has filed for chapter 11 protection after a federal judge upheld a $28 million judgment in favor of the Las Vegas developer who built the glass bridge, The Associated Press reported yesterday. Sa' Nyu Wa (SNW) contracted with David Jin in 2003 to share revenue from the skywalk, which gives visitors a view of the Colorado River from beyond the edge of the canyon on the Hualapai reservation. The corporation has assets of up to $10 million from ticket sales but owes creditors as much as $50 million, court documents filed late Monday show. The corporation is appealing the judgment, while Jin’s attorneys are seeking to garnish its bank accounts to help fulfill the award granted in arbitration. SNW chief executive Jennifer Turner said that the corporation cannot continue its business operations. The Grand Canyon Resort Corporation, which runs a tribal lodge, rafting trips and other tourism operations, is now running the Skywalk and has hired employees from SNW. SNW has a six-member board of directors; its only shareholder is the Hualapai tribe. Jin said that the tribal council should not believe that its financial responsibility to him is limited to SNW’s liquid assets because it has sought to take over his rights in tribal court. Jin’s attorneys have put the value of the contract at $277 million. He invested $30 million to build the Skywalk.
