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US Trustee Brief of First Day Matters PDF Print E-mail
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Business of Baseball Documents - Texas Rangers Bankruptcy
Written by Maury Brown   
Saturday, 29 May 2010 11:04

Rangers - US Trustee Filing

Brief filed by the US Trustee in connection with First Day Matters regarding the "pre-packaged" plan for the sale of the Texas Rangers, and begins the overview by saying, "The parties differ as to whether creditors are impaired and therefore whether the proposed plan is truly prepackaged. While the United States Trustee might agree that much of the requested relief is appropriate in a truly prepackaged chapter 11, here the Debtor has not solicited voting before the case filing. No ad hoc committee of unsecured creditors exists. The JP Morgan Chase lender group (“Lenders”) did not participate in developing the plan...."

Read the US Trustee Brief filed on May 25, 2010 (22 pages - PDF) PDF

 
 
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