JPMorgan Sues Over Texas Rangers Lease Transfer

Law360, New York (July 19, 2010, 6:15 PM EDT) -- JPMorgan Chase Bank NA is seeking to void the transfer of a stadium lease to bankrupt Texas Rangers Baseball Partners, saying that the move interferes with the lender’s ability to collect $411 million owed by the baseball team’s owner.

The bank filed an adversary suit Friday in the U.S. Bankruptcy Court for the Northern District of Texas, contending that it never consented to the bankrupt team’s May assumption of the lease from an affiliate of owner Hicks Sports Group LLC.

The transfer, which occurred just days...
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