The Chapter 11 filing of the Los Angeles Dodgers is a desperate move by Frank McCourt to try to maintain his ownership of the team. At least McCourt, whatever his shortcomings as a major league franchise owner, chose wisely in selecting bankruptcy lawyers. Partners Bruce Bennett and Martin Bienenstock of proposed debtor's counsel Dewey LeBeouf would be high selections on any legal fantasy team. Even, the best, however, will likely not be enough here.
Bennett and Bienenstock will probably be able to stave off a quick takeover of the Dodgers by Major League Baseball, and to turn aside the demands that the case be dismissed or that a trustee be appointed to run the team. They should also succeed in buying McCourt enough time to negotiate a sale of the team on favorable terms. But McCourt's true goal here - to use the Chapter 11 process to keep permanent control of the team - appears to be beyond the reach of any lawyer.
Read this article in its entirety at Kelley Drye & Warren LLP's Bankruptcy Law Insights blog
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