Dodgers' statement on bankruptcy court ruling
A bankruptcy judge on Thursday denied the Dodgers' request to access a wide range of documents and put Commissioner Bud Selig under oath in advance of a July 20 hearing, at which time the judge will decide whether Dodgers owner Frank McCourt can use his own financing during the bankruptcy proceedings or whether Major League Baseball should provide financing on what the league says are better terms.
The Dodgers' statement follows:
"The denial today by the court of the Dodgers' motion for expanded discovery of MLB changes nothing with respect to the superiority of the DIP financing secured by the Dodgers, which will be before the court on 7/20 for approval. At that time, we fully expect this DIP financing to be approved and for the financing alternative that MLB wants to put forward to be shown for what it is –- inferior and disadvantageous terms to the Dodgers and not in the best interests of the debtor to maximize the value of the Dodgers in the Chapter 11 process. Although the Court concluded that the discovery we sought is premature, we look forward to persuading the Court on July 20 that the financing with Highbridge is both appropriate and preferable to financing from MLB. As the Court indicated, there will be other opportunities in this bankruptcy case for the Dodgers to obtain the discovery that MLB does not want to share with the Dodgers and the Court.”
-- Bill Shaikin