Dallas Stars Get Green Light For Auction

Law360, New York (September 23, 2011, 6:34 PM EDT) -- A Delaware bankruptcy judge on Thursday approved a plan for the National Hockey League's Dallas Stars LP to be sold at auction with Vancouver, Canada-based businessman Tom Gaglardi's $265 million bid as the stalking horse.

“The debtors have demonstrated a compelling and sound business justification for authorization to enter into the stalking horse asset purchase agreement,” U.S. Bankruptcy Judge Peter J. Walsh said.

The judge scheduled an auction for Nov. 21, which, if the timetable holds, could see the Stars emerge from bankruptcy proceedings within a...
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