October 12, 200916 yr QUOTE (Athomeboy_2000 @ Oct 12, 2009 -> 12:38 PM) This is all about "gaming" the system to get the sale through faster. The team's brief stay in Chapter 11 is expected to protect the team's new owners from potential claims from Tribune creditors. It will also be used to dump some debt, which will free up some cash for operating expenses for the new ownership.
October 12, 200916 yr so basically these Tribune creditors get screwed out of their money, so the sale can be made easier and be more convenient???
October 12, 200916 yr QUOTE (southsider2k5 @ Oct 12, 2009 -> 12:46 PM) It will also be used to dump some debt, which will free up some cash for operating expenses for the new ownership. So, they are gaming the system. They can afford to pay the creditors, they just dont want to.
October 12, 200916 yr QUOTE (Athomeboy_2000 @ Oct 12, 2009 -> 01:02 PM) So, they are gaming the system. They can afford to pay the creditors, they just dont want to. I don't have any of their financials, but I would guess that is probably the case.
October 19, 200916 yr QUOTE (LittleHurt05 @ Oct 12, 2009 -> 12:55 PM) so basically these Tribune creditors get screwed out of their money, so the sale can be made easier and be more convenient??? Its an American way of doing business now-
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