Tuesday, September 29, 2009

Bankruptcy and the Chicago Cubs

US Bankruptcy Judge Kevin Carey approved the Tribune Company's proposed sale of the Chicago Cubs, a baseball franchise valued at $845 million, the Chicago Tribune reported recently. The move marks the first of two bankruptcy court approvals needed before the deal could officially close and the money flow to an escrow account for Tribune's creditors. No objections to the pending sale were brought to court. Tribune and Ricketts officials expect that a quick in-and-out trip to court for the Cubs will bring an end to a deal.

Warmest Regards,

Bob Schaller

Your Bankruptcy Advisor Blog
By: Attorney Robert Schaller (Bob's bio) of the Schaller Law Firm

Bob is a member of the National Bankruptcy College Attorney Network, American Bankruptcy Institute and the National Association of Consumer Bankruptcy Attorneys.

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