Phoenix bankruptcy/ownership Part XVII: Wake Me Up When September Ends
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09-08-2009, 12:22 PM
Join Date: Nov 2006
Originally Posted by
Is there a percedent in which a bankruptcy court accepted less money for the creditors based on "law" that is made up between 30 members?
If the highest bid doesn't win, and creditors could have gotten money but didn't, then perhaps there will be an appeal by the creditors?
The only BS bid I see is the one from the NHL.... you know, the one that states that they would like to keep the team in Glendale while putting in an out clause for moving after 1 year.
The people in Glendale are getting screwed by a bunch of BS here, but it certainly isn't by Balsille.
I can cite more precedent that states a business, partnership or joint venture isn't required to accept a partner at any price against it's will. The law is not made by the 30 partners that are the BoG.
If you think if you have any legal precedent that shows a Court will require a JV to accept a partner against it's wishes, please post it. While you're at it, please post any precedent that shows a League can be compelled by another party to place a team in a market against it's will.
Rodier will likely pay you handsomely if you can. His teams from three separate law firms can't come up with any.
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