In Bankruptcy In The News, Blog, Chapter 11 Bankruptcy

Daniel Kaplan of the SportsBusiness Journal recently stated that U.S.Bankruptcy Judge Michael Lynn announced that he will uphold the auction of the Texas Rangers, which will take place on August 4th.  Judge Lynn made his announcement at a bid procedures hearing.

However, creditors for the Rangers are arguing that the August date does not give bidders outside of the investor group spearheaded by Chuck Greenberg and Nolan Ryan enough time to get necessary funds together.  Earlier this year, the team filed for Chapter 11 bankruptcy.

At the hearing, a lawyer for Dallas Mavericks owner Mark Cuban said that if the opportunity were right, Cuban may be interested in purchasing the club.  Cuban has said many times through media outlets that he may be interested in partnering with other potential bidders, including Greenberg and Ryan.

If you need assistance with Chapter 11, it is to your advantage to obtain the services of a San Antonio bankruptcy attorney by contacting the Malaise Law Firm today!