A month after a Bankruptcy Judge Eric L. Frank approved its reorganization plan, the Philadelphia Orchestra Association announced yesterday that it has officially emerged from chapter 11 protection, the Associated Press reported yesterday. The Orchestra addressed more than $100 million in claims, debts and liabilities with a settlement of $5.49 million, a statement from the association and its subsidiary, the Academy of Music, said. Of the total, $4.25 million will be paid according to an agreed-upon schedule, the statement said. The rest will be distributed according to a multi-year plan.
