Creditors raise new concerns over Rangers' sale
Lawyer Blogs
Angry creditors have thrown plans for an Aug. 4 auction of the Texas Rangers into jeopardy, saying they don't like the bidding procedures and arguing that the lease for the team's ballpark should be severed from the sale.
U.S. Bankruptcy Judge D. Michael Lynn on Monday granted a motion to seal the creditors' request to reconsider the bidding procedures that are heavily controlled by Major League Baseball. Lynn approved the procedures last week after making some changes, including delaying the auction for two weeks to give potential buyers more time to secure financing.
Attorneys for Major League Baseball said the creditors' motion filed last week was rehashing arguments already rejected by the judge, including claims that the bidding process would prevent a fair and competitive sale.
Lynn set a Tuesday hearing to consider the objections and possibly rule on a separate lawsuit, filed by creditor JP Morgan Chase Bank, seeking to remove the Rangers Ballpark lease from the sale.
JP Morgan contends the team's parent company, Hicks Sports Group, transferred the lease to the team just before the bankruptcy filing without the bank's approval, as required in its loan agreement. The bank contends that the ballpark lease is not the team's property.
Related listings
-
Former Kansas athletics official pleads guilty
Lawyer Blogs 07/16/2010A former University of Kansas athletics official has admitted in court that he knew other school officials were involved in a lucrative ticket-scalping racket but concealed the crime and didn't alert authorities.Former assistant director of ticket op...
-
Government seeks tough sentence against NY lawyer
Lawyer Blogs 07/15/2010A judge was poised to decide whether the government and some fellow judges were right when they said a 70-year-old former civil rights lawyer convicted in a terrorism case received too much leniency when she was sentenced to just over two years in pr...
-
NY judges may limit filmmaker raw footage ruling
Lawyer Blogs 07/15/2010Federal appeals court judges in New York may limit the amount of raw footage that a filmmaker must turn over from his documentary about a legal dispute between Chevron and Ecuadoreans over oil contamination.A three-judge panel of the 2nd U.S. Circuit...
Grounds for Divorce in Ohio - Sylkatis Law, LLC
A divorce in Ohio is filed when there is typically “fault” by one of the parties and party not at “fault” seeks to end the marriage. A court in Ohio may grant a divorce for the following reasons:
• Willful absence of the adverse party for one year
• Adultery
• Extreme cruelty
• Fraudulent contract
• Any gross neglect of duty
• Habitual drunkenness
• Imprisonment in a correctional institution at the time of filing the complaint
• Procurement of a divorce outside this state by the other party
Additionally, there are two “no-fault” basis for which a court may grant a divorce:
• When the parties have, without interruption for one year, lived separate and apart without cohabitation
• Incompatibility, unless denied by either party
However, whether or not the the court grants the divorce for “fault” or not, in Ohio the party not at “fault” will not get a bigger slice of the marital property.