Mark Cuban and Jim Crane Abandon Efforts to Get Refund on Their Bid for the Texas Rangers
But that same doc, posted yesterday to the Texas Rangers Baseball Partners Information website that continues to turn coal into gold, also offers the white flag of surrender. Cuban and Crane are ditching their legal fight because, well, it ain't worth the time or money it'll take to get their dough back. So that's that. Says the filing:
Despite substantial benefit provided by Cuban and Crane of over $100 million, given the current circumstances, it is not a sound business decision for Cuban and Crane to continue to incur the expense and time necessary to pursue this matter.
After extensive discussions with the United States Trustee and creditors, the Applicants were informed that the United States Trustee intends to object to the Applications on policy grounds. Based on this information, coupled with the objections by the second lienholders and the possibility that resolution of the relief requested in the Applications may not be final for several months, if not years, following likely appeals thereof, the Applicants have determined in their business judgment to withdraw the Applications.