Tom Lauria News
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The Los Angeles Dodgers cannot borrow $150 million from a JPMorgan Chase & Co. unit for its bankruptcy and must hold talks with Major League Baseball on its rival loan offer, a judge said.
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The Los Angeles Dodgers may learn today whether the team can borrow $150 million from a unit of JPMorgan Chase & Co., or must accept a loan from Major League Baseball, which has battled the club since it filed bankruptcy last month.
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The Los Angeles Dodgers and Major League Baseball attacked each other in court over competing $150 million loan proposals, with baseball Commissioner Bud Selig accusing team owner Frank McCourt of trying to break the rules that keep the league together.
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The Los Angeles Dodgers can use as much as $60 million of a bankruptcy loan after Major League Baseball dropped its opposition following changes in the loan’s terms, a judge ruled.
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The Los Angeles Dodgers warned the monitor appointed by Major League Baseball to oversee the team not to interfere with its operations, saying in a letter he would be violating a bankruptcy court order, a person familiar with the document said.
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Six Flags Inc. resolved the final objections to its reorganization plan, clearing the way for the bankrupt theme-park owner to leave court protection by May 3, lawyers said.
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Winning the Texas Rangers at auction will require a high bid, approval from owners of at least 23 of the 30 Major League Baseball teams and Commissioner Bud Selig’s blessing.
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Washington Mutual Inc. , the former parent of the biggest U.S. bank to fail, won court approval to send its plan to liquidate most of its remaining assets out to creditors for a vote.
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The judge overseeing Washington Mutual Inc. ’s bankruptcy agreed to consider sending the bank- holding company’s plan to liquidate most of its remaining assets out to creditors for a vote.
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Six Flags Inc., the owner of 19 theme parks in the U.S., Canada and Mexico, emerged from bankruptcy court protection today after reducing debt by more than half.
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