{"id":2225,"date":"2015-04-10T16:40:59","date_gmt":"2015-04-10T21:40:59","guid":{"rendered":"http:\/\/hoorfarlaw.com\/blog\/?p=2225"},"modified":"2015-04-10T16:40:59","modified_gmt":"2015-04-10T21:40:59","slug":"major-league-bankruptcies","status":"publish","type":"post","link":"https:\/\/hoorfarlaw.com\/blog\/?p=2225","title":{"rendered":"Major League Bankruptcies"},"content":{"rendered":"<p><a href=\"http:\/\/hoorfarlaw.com\/blog\/wp-content\/uploads\/2015\/04\/major-league-bankruptcy.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter  wp-image-2226\" src=\"http:\/\/hoorfarlaw.com\/blog\/wp-content\/uploads\/2015\/04\/major-league-bankruptcy.jpg\" alt=\"major league bankruptcy\" width=\"114\" height=\"111\" \/><\/a><\/p>\n<p>Bankruptcy can happen to anyone.\u00a0 It is nothing to be ashamed of.\u00a0 Bankruptcy can be a tool to assist those in need.\u00a0 However, if you are thinking of filing bankruptcy and wondering who has been in your same situation, take a look at these major league teams that have filed bankruptcy in the past:<\/p>\n<p>NHL Pittsburgh Penguins<\/p>\n<p>The Penguins have filed for Chapter 11 bankruptcy twice.\u00a0 The first time was in 1975 because they owed $500,000 to the IRS and were $6.5 million in debt.\u00a0 The second time was in 1991 when the team owed more than $90 million to creditors and had asked its players to defer their salaries to help pay the bills.<\/p>\n<p>NHL Cleveland Barons<\/p>\n<p>The Barons filed for bankruptcy in 1978 due to a struggling fan base.<\/p>\n<p>NHL Los Angeles Kings<\/p>\n<p>The Kings filed for bankruptcy in 1995 when their owner defaulted on a $90 million loan.<\/p>\n<p>NHL Ottawa Senators<\/p>\n<p>The Senators filed for bankruptcy in 2003 when they owed their creditors more than $200 million Canadian dollars to creditors.\u00a0 One of their creditors happened to be the NHL.<\/p>\n<p>MLB Seattle Pilots<\/p>\n<p>The Pilots filed for bankruptcy in 1970 after having been in existence for one season.<\/p>\n<p>MLB Baltimore Orioles<\/p>\n<p>The Orioles filed for bankruptcy in 1993 when their owner made a series of bad investments.\u00a0 At the time, the owner invested in a consumer electronics company.<\/p>\n<p>MLB Chicago Cubs<\/p>\n<p>The Cubs filed for bankruptcy in 2009 when its parent company, the Tribune, filed for bankruptcy in 2008.<\/p>\n<p>MLB Los Angeles Dodgers<\/p>\n<p>The Dodgers filed for bankruptcy in 2011 when their owner went through a very bad divorce.\u00a0 After the filing of the bankruptcy, the team was taken over by the MLB.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bankruptcy can happen to anyone.\u00a0 It is nothing to be ashamed of.\u00a0 Bankruptcy can be a tool to assist those in need.\u00a0 However, if you are thinking of filing bankruptcy and wondering who has been in your same situation, take &hellip; <a href=\"https:\/\/hoorfarlaw.com\/blog\/?p=2225\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[267,76,714,348,693,713],"class_list":["post-2225","post","type-post","status-publish","format-standard","hentry","category-general","tag-attorney","tag-bankruptcy","tag-it-can-happen-to-anyone","tag-law-office-of-camron-hoorfar","tag-lawyer","tag-major-league-bankruptcy"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/2225","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2225"}],"version-history":[{"count":1,"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/2225\/revisions"}],"predecessor-version":[{"id":2227,"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=\/wp\/v2\/posts\/2225\/revisions\/2227"}],"wp:attachment":[{"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2225"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2225"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hoorfarlaw.com\/blog\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2225"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}