07-13-2009, 10:39 AM
<!--quoteo(post=49575:date=Jul 13 2009, 09:32 AM:name=Butcher)-->QUOTE (Butcher @ Jul 13 2009, 09:32 AM) <{POST_SNAPBACK}><!--quotec-->I don't get it.<!--QuoteEnd--><!--QuoteEEnd-->
There are no creditors forcing the organization into bankruptcy, so it isn't clear to me either. Maybe the team can claim that future liabilities from renovating Wrigley, paying salaries, taxes, etc are forcing them to seek protection. That doesn't make a ton of sense though, unless Tribco is planning on moving some of its own debt onto the Cubs' balance sheet through some accounting trick.
There are no creditors forcing the organization into bankruptcy, so it isn't clear to me either. Maybe the team can claim that future liabilities from renovating Wrigley, paying salaries, taxes, etc are forcing them to seek protection. That doesn't make a ton of sense though, unless Tribco is planning on moving some of its own debt onto the Cubs' balance sheet through some accounting trick.