In Re Texas Rangers: Lenders Strike Out

Law360, New York (October 19, 2012, 12:20 PM EDT) -- On Sept. 25, 2012, Judge D. Michael Lynn for the United States Bankruptcy Court of the Northern District of Texas held that a “tail provision” for professional fees rendered prepetition survived — and was not cut off by — the debtor’s bankruptcy filing. In re Texas Rangers Baseball Partners, Case No. 10-43400-DML (Bankr. N.D. Tex. Sept. 25, 2012).

Background

Texas Rangers Baseball Partners is a general partnership that owns and operates the Texas Rangers, a member of the Major League Baseball. Partners was 99-percent owned by...
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