Dodgers file bankruptcy reorganization plan
DOVER, Del. - January 20, 2012 (WPVI) -- The Los Angeles Dodgers have filed a bankruptcy reorganization plan, a week after resolving a court fight with Fox Sports that threatened plans to sell the club.
The Dodgers filed their plan Friday in bankruptcy court in Delaware, saying the sale of the team should satisfy all creditor claims in full, either through cash payments or assumption of the claims by the new owners.
The Dodgers are asking for a Feb. 22 court hearing for court approval of the statement outlining the reorganization plan and the process for creditors to vote on it.
The Dodgers sought bankruptcy protection in June after baseball Commissioner Bud Selig rejected a new TV deal with Fox that team owner Frank McCourt was counting on in order to make payroll and keep the franchise solvent.
los angeles dodgers, business/finance
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