Phoenix LXXII: Send in the Clowns
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02-12-2013, 09:36 PM
Join Date: Feb 2012
Originally Posted by
I mean, legally speaking, can you conspire to organize bankruptcy solely for the purposes of voiding a particular contract?
Well if you are solvent and liquid and your creditors object to you filing then the judge can say "you don't need to be here."
However, given the pile of debt the team was under and the value of the team its hard to argue they were solvent.
That being said, you have a lot of leeway to void contracts and leases in bankruptcy.
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