At issue is a loan to the Dodgers. Dodger’s owner, Frank McCourt, has managed to negotiate a lower interest rate which has satisfied the creditors; however, MLB is offering a loan at a lower interest rate. McCourt believes that the MLB is trying to force him out as owner. Full articles can be found here and here.
Article in the Hollywood reporter about David Bergstein.
Bergstein is a money guy for financing movies.
Improper actions by the Trustee are alleged. Usually its the Debtor doing something wrong. This is an interesting turnabout.
To bankrupt or not to bankrupt… Yes, it is a little cliché, but that was the question faced by CEO of Edison International, John Bryson, during the California electricity debacle. Now Bryson, has been nominated for the Secretary of Commerce. The full LA Times article can be found here.
Defendant owned companies forced into Chapter 11 bankruptcy, but was not a debtor in the proceedings. The plan was confirmed and prohibited suits against the bankruptcy professionals and certain litigation against pre-bankruptcy creditors. Years later defendant sued plaintiff, pre-judgment creditors, and the bankruptcy professionals in an Indiana state court, based on Indiana law. The creditors removed the suit to bankruptcy court (28 U.S.C. 1452(a)) rather than asking the bankruptcy judge to enforce his order. The statute authorizes removal of any claim of which that court would have jurisdiction under 28 U.S.C. 1334, which confers on the district courts original jurisdiction of all civil proceedings arising under the Bankruptcy Code, or “arising in or related to cases under” the Code. The bankruptcy judge determined that the suit against the bankruptcy professionals was barred. Defendant filed an amended complaint eliminating all defendants except plaintiff and stating that the only claims arose from alleged violations of confidentiality agreements. The bankruptcy judge ruled that, as amended, the complaint was unrelated to the bankruptcy and ordered the suit remanded to the state court. The district judge affirmed. The Seventh Circuit concluded that the dismissal was not subject to review.
According to the Bankruptcy Mortgage Project’s homepage:
The National Consumer Law Center created the Bankruptcy Mortgage Project as a resource for courts, consumers, trustees, mortgage servicers, attorneys, academics, and others in the bankruptcy community. It organizes and provides access to numerous local rules, forms, general orders, and court opinions addressing a variety of mortgage issues in consumer bankruptcy cases.