Frank McCourt and his wife, Jamie, are locked in a heated divorce dispute over the ownership of the Los Angeles Dodgers.
Though the McCourts’ battle is on a much larger scale, this type of property division battle happens every day in family law courtrooms, according to DadsDivorce.com founder Joseph Cordell.
Cordell appeared on Sporting News Radio with Steve Czaban to discuss the Dodgers ownership situation and the team being forced to file for Chapter 11 bankruptcy protection.
Jamie McCourt is claiming partial ownership of the Dodgers in one of the largest asset division cases in the U.S. in recent years.
Here a few highlights from the interview:
Would the Dodgers be in bankruptcy court if there were no divorce?
“I would say the divorce was a powerful, contributing factor but not the sole reason. In other words, if we didn’t have the divorce we would still have a guy who was cutting corners to fund a very lavish lifestyle.
“There was also an incident where a fan received a serious injury at the stadium, which affected revenue and not to mention who knows where that civil litigation is going to end up. So I do think Frank McCourt has turned out to be a pretty reckless owner.”
What is different about bankruptcy courts?
“Bankruptcy courts have notoriously broad powers. So for him it’s a nuclear option in which he has at least a shot of creating enough havoc so that he at a minimum could walk away with more money then he would otherwise have gotten.
“His greatest hope is the bankruptcy court is going to set aside or at least ignore this constitutional provision in Major League Baseball that says MLB can automatically take the team and sell it in the event of a filing of a Chapter 11.
“However, the judge’s comments appeared interested and even respectful in regards to this constitutional provision within Major League Baseball.”
Why are the bankruptcy proceedings in Delaware and not California?
“It appears Frank McCourt formed an entity in Delaware, which is a notoriously corporation-friendly state. So the authority rests there.”
Cordell & Cordell has men’s divorce lawyers located nationwide who exclusively handle family law cases, including property division.