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  • Bankrupty Judge Forces Frank McCourt to Take MLB Loan

    07/22/2011 3:12:02 PM PDT · by La Enchiladita · 2 replies
    Reuters ^ | July 22, 2011 | Lucas Shaw
    Los Angeles Dodgers’ owner Frank McCourt will be forced to accept a loan from Major League Baseball after a bankruptcy judge rejected a potential loan from a hedge fund on Friday. McCourt had been seeking to get an outside loan that would enable him to pay off creditors without involving the league, which has made its displeasure with McCourt quite clear. Instead, the judge rejected the loan McCourt wanted and pushed him in the direction of MLB. Bruce Bennett, McCourt’s lawyer, issued a statement suggesting that MLB did not have the right to intervene in matters of ownership.