United League’s Colts Face Major Bankruptcy Hurdle in Court

San Angelo Colts LogoThe trustee overseeing the Chapter 11 (reorganization) bankruptcy filing by the business that owns the indy pro San Angelo Colts (United League) has filed a motion with the U.S. Bankruptcy Court in Dallas to (1) dismiss the Colts’ Chapter 11 filing, or (2) convert it to a Chapter 7 (liquidation) bankruptcy because “The Debtor has failed to file monthly operating reports and failed to provide the United State Trustee with tax returns, proof of insurance, and proof of debtor-in-possession bank account.”  Read more here.

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Filed under League & Franchise, Legal, Money & Financials

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