Monday, September 19, 2011
Stars sale/bankruptcy: Court approves motions
By Mark Stepneski
A U.S. Bankruptcy court in Delaware Monday approved all first day motions filed in connection with the Dallas Stars bankruptcy case. Most of the motions help keep the Stars running as a business while they are in bankruptcy process.
A hearing on bidding procedures for the sale of the team has been set for Thursday at 3 p.m. If everything goes as planned, the deadline for bids would be October 22. Those bids due October 22 would have to top the stalking horse bid by Vancouver businessman Tom Gaglardi, who has reached an agreement to the buy the team.
Today's moves could put the auction for the Stars on around November 21, if the proposed timeline is approved.