Coyotes File Ch. 11 Plan, Reject Call For Ch. 7

Law360, New York (December 7, 2009, 7:40 PM EST) -- The former owners of the National Hockey League's Phoenix Coyotes have filed a Chapter 11 plan of liquidation and rebuffed a recent call to convert the proceedings to a Chapter 7 case, claiming that doing so would merely prolong the wind-down and eat away at the liquidation trust proposed for the unsecured creditors.

On Monday, Coyotes Hockey LLC lodged a plan in the U.S. Bankruptcy Court for the District of Arizona that it says brings a speedier and thriftier resolution to the bankruptcy cases than the...
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