UPDATED: Players union, Stow family appointed to creditors' committee
The Major League Baseball Players’ Assn. and the family of Bryan Stow were among five parties appointed Wednesday to represent the interests of unsecured creditors in the Dodgers’ bankruptcy case.
The committee acts to ensure the interests of all unsecured creditors in the case, giving the players’ union a voice in any restructuring plan proposed by embattled Dodgers owner Frank McCourt, or in a sale of the team.
Michael Weiner, the executive director of the players’ union, said the players want to see the Dodgers reclaim their place as an elite franchise.
“We will be very much involved in the ongoing proceedings in bankruptcy court,” Weiner said Tuesday.
Of the team’s top 40 unsecured creditors, the majority are current and former players, led by Manny Ramirez, to whom the Dodgers owe $21 million. Of the 13 unsecured creditors owed more than $1 million, all involve payment to current or former players.
The Dodgers do not presently owe Stow any money, but his family has sued the team over the stadium parking lot beating in which he was critically injured. Thomas Girardi, the attorney for Stow, said the federal trustee selecting the committee recognized the likelihood that Stow would have a valid and substantial claim against the Dodgers.
“The millions of dollars in medical bills are mounting,” Girardi said. “We believe, clearly, the Dodgers will be responsible.”
The Dodgers’ flagship radio station, KABC, also received a seat on the committee. The Dodgers owe KABC $273,321, according to their bankruptcy petition. The other two parties appointed to the committee represent vendors.
The Dodgers, as the debtor, are responsible for covering the legal bills incurred by the committee.
-- Bill Shaikin