Weil, Gotshal & Manges serves as counsel to Dallas Stars, LP, owner of the Dallas Stars National Hockey League Club, which announced today that an agreement had been reached to sell the Stars and all its hockey-related assets to a group owned by Vancouver-based businessman, Tom Gagliardi, and his family. In order to facilitate the sale, the club has filed a voluntary chapter 11 bankruptcy petition in US Bankruptcy Court in Delaware and is seeking to complete the transaction through a court-approved auction. The sale and auction must also be approved by the National Hockey League Board of Governors.
The club is requesting the Bankruptcy Court to establish a schedule that will result in the Court holding a hearing to confirm the prepackaged reorganization plan and proposed sale within 60-75 days, and expects to complete the sale and exit bankruptcy by the end of November.
The Weil team included Corporate partner Glenn West and associates Brandye Brown, Mandisa Price, Brett Thorstad, Jennifer Seymour, and Jessica Sheridan; Business Finance & Restructuring partners Martin Sosland and Ronit Berkovich and associates Kelly McDonald, Charles Persons, Charlie Chen, and Dana Kaufman; Tax partner Jared Rusman and associates Max Goodman and Kristina Novak; Benefits partner Michael Kam and associate Adam Mendelowitz; IP Transactions partner Karen Ballack and associate Kwang-chien Ger; Real Estate attorney Leslie Smith; Environmental Transactions partner Annemargaret Connolly; Antitrust counsel John Sipple; and paralegals Lyle Bartram (Business Finance & Restructuring), Brooke Collier, Charlotte Mayes (both Corporate), and Joseph Rafferty (Antitrust).
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