The United States Trustee Breaks Down (And Tears Apart) the Rangers' Bankruptcy Filing
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| Sam Merten |
| Chuck Greenberg, Tom Hicks and Nolan Ryan at Monday's press conference formally announcing the Chapter 11 filing on Monday |
One big problem among many, per the Trustee: The Rangers didn't allow the creditors, chief among them the JP Morgan Chase lender group, an opportunity to vote on or participate in its restructuring plan before it was filed with the court. Which means Neary isn't necessarily inclined to treat this as a "pre-packaged" bankruptcy. Not at all: "Under the facts, fairness and procedural due process support assuming impairment, requiring disclosures, and treating this case as a traditional bankruptcy filing." In other words, so much for that 45-day window to git 'er done? US Trustee Filing in Rangers Chapter 11
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