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Evan Grant With More Fallout

Evan Grant draws several conclusions in reviewing today’s decision, including this depressing note:

Judge Lynn’s ruling, apparently indicates the creditors were not impaired financially, but were impaired in a non-monteary manner. The original loan agreement to HSG, called the Pledge Agreement, gave the creditors the right to veto any sale in the event of a default. Had the Rangers been sold while not in default, the creditors would have had no recourse.

Photographs by jamesbrandon, jdtornow, phlezk, flygraphix, mcdlttx, tomasland, and literalbarrage used in background montage under Creative Commons. Thank you.