MLB, Dodgers Trade Hits Over $150M Ch. 11 Funding

Law360, Wilmington (July 20, 2011, 10:15 PM EDT) -- The Los Angeles Dodgers and Major League Baseball feuded in Delaware bankruptcy court Wednesday over who would provide a $150 million loan to fund the team’s reorganization, with the team railing against a league-sponsored alternative as a thinly veiled bid for control of the club.

A Dodgers executive all but conceded in testimony that MLB’s financing package had better economic terms on its face than the loan secured by the team from JPMorgan-affiliated hedge fund Highbridge Principal Strategies LLP.

But the Dodgers argued that the fine...
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