Former Coyotes Owner Gets Hit With Bankruptcy Damages

On November 12, 2015, U.S. District Judge G. Murray ruled that former Phoenix Coyotes owner Jerry Moyes is liable to the NHL for  attorneys’ fees and other damages that resulted from the team’s bankruptcy back in 2009. The NHL initiated its action against the former Coyotes owner after he declared Chapter 11 bankruptcy and the NHL purchased the team for $140 million. The suit was brought in 2010 to recover $145.9 in damages, which included more than $112 in operating expenses,  $6.5 million in unpaid…
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Bankruptcy Judge Recommends NHL Not Recoup Fees From Coyotes Purchase

On Wednesday, January 21, a U.S. Bankruptcy Court judge recommended that the NHL not be allowed to collect the majority of the $145.9 million it claims from ex-Phoenix Coyotes owner Jerry Moyes. The lawsuit stems from the NHL’s 2009 purchase of its member team, then named the Phoenix Coyotes.  The Coyotes were first purchased in 2006 by Jerry Moyes who realized after two years of operating at a $50 million loss  that he could not afford the team.  Moyes filed for Chapter 11 bankruptcy…
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