LA Dodgers Win $60M DIP Loan, But MLB Wants In

Law360, Wilmington (June 28, 2011, 7:49 PM EDT) -- A Delaware bankruptcy judge approved an interim $60 million financing package on Tuesday to help Los Angeles Dodgers LLC keep its players on the field, but Major League Baseball is aiming to intercede in the case by supplanting the deal with a loan of its own.

U.S. Bankruptcy Judge Kevin Gross cleared the first installment of a $150 million debtor-in-possession loan — provided by a unit of hedge fund Highbridge Capital Finance LLC — to meet a looming payroll deadline and otherwise fund the club’s operations....
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