Chief Restructuring Officer In Texas Rangers’ Bankruptcy Threatened

July 27th, 2010 by Reed Allmand

Share on TwitterSubmit to redditShare via email

Chief Restructuring Officer In Texas Rangers’ Bankruptcy Threatened As if the Texas Rangers’ Chapter 11 bankruptcy case couldn’t get stranger, the chief restructuring officer appointed in the Texas Rangers’ Chapter 11 bankruptcy case received threatening phone calls that were so serious that security has been increased significantly.  But U.S Bankruptcy Judge Michael Lynn tried to downplay the threats.

“I am not particularly worried about them,” the judge said. “After all, we do get those e-mails from disgruntled fans who believe — as, I understand, do some sports writers — that I should construe the Bankruptcy Code as wished for by the fans.

“I don’t expect anyone to shoot at him or me,” he said. “A baseball through my window is another matter.”

The exact content of the threats has not been disclosed to the public, however, they were serious enough to prompt the placement of Federal Protective Service vehicles at the front entrance of the courthouse during a Texas Rangers bankruptcy hearing.  And while the Texas Rangers’ debtors have not directly encouraged fans to express hostility towards the bankruptcy trustee and his appointed chief restructuring officer, they have suggested that if they bankruptcy court does not decide in their favor that they are somehow damaging the baseball franchise and by extension the thousands of fans who support them.  It is important that the bankruptcy process is not influenced by outside forces and that both debtors and creditors behave in a civil manner so that the integrity of the bankruptcy court is protected.  Once we begin to attempt to influence the trajectory of a bankruptcy case with violence or even threats of violence then we are putting all bankruptcy debtors at risk.  Just imagine what would happen if large banks could use their power and influence to sway bankruptcy judges and trustees presiding over personal bankruptcy cases.  It would be a nightmare for small individual debtors who depend on the neutrality of the bankruptcy court to win their fresh start.  It is important that despite their grievances with the bankruptcy process, that Texas Rangers fans refrain from threats and violence so that we can maintain the civility and neutrality of the bankruptcy process for the benefit of all of us.

Share on TwitterSubmit to redditShare via email
avatar

About Reed Allmand

Website

Allmand's vision is rooted in his own financially precarious childhood in Abilene "My father always had difficulty holding a job and supporting our family, so after my parents divorced when I was 12, my sister and I got jobs to help make ends meet," he recalls. "I remember what it felt like as a child to worry that our car would be repossessed or home foreclosed on."

View all posts by Reed Allmand

Subscribe

Subscribe to our e-mail newsletter to receive updates.

Leave a Reply

FAQ

Why do I need to submit a new wage order when I modify my plan

When we modify your bankruptcy plan we are changing your plan payments. This means that we have to get with your employer and change the terms and amount of your wage order. The only way we can do that is by filling out a new wage order form.  

Learn More
What happens if the stay terminates on my home?

If the bankruptcy stay terminates on your home that means that even though your in bankruptcy, your creditor can pursue all there legal remedies they can pursue if you were not in bankruptcy. This includes foreclosure, and having your house sold and evicting you from your house.

Learn More

Find Location

map
  • Dallas Bankruptcy

    5646 Milton Street, Ste. 120 Dallas, Texas 75206
  • Fort Worth Bankruptcy

    5601 Bridge Street # 300 Ft Worth, TX 76112

Meet Our Clients