 Oregon Arena Corporation managed the entire Rose Quarter, including those portions still owned by the City, until it was dissolved in a 2004 bankruptcy.The arena creditors took possession of the Rose Garden and the underlying land, together with the rights to manage other Rose Garden properties; and formed a new corporation, Portland Arena Management LLC ("PAM") to manage the property acquired in the bankruptcy proceedings.PAM soon hired Global Spectrum to operate the arena and the remainder of the Rose Quarter.