In Bankruptcy, Bankruptcy In The News, Blog, Chapter 11 Bankruptcy

Although the owner of the team filed for bankruptcy over twelve months ago, the fight to retain ownership of the team has been ongoing. The judge in this bankruptcy case recently ruled that the owner would not be able to testify in court, which could hurt the team significantly. In rebuttal, the team’s legal defense is working up a case to present evidence gathered from other teams that a head of the baseball league has been engaged in discriminatory practices.

The owner has been working on a separate deal that would allow him to keep the team, rather than losing it in the bankruptcy battle. He hopes to sell television rights to all the games in 2012, a move that would provide him with enough funds to exit bankruptcy and retain his team.

If you’re planning to file for Chapter 11 so you can keep your business, contact the Malaise Law Firm now to arrange a consultation with a San Antonio bankruptcy attorney.