Texas Rangers: Lenders Strike Out in Challenge to Financial Advisors’ Professional Fees

By Alicia B. Davis and Thomas Curtin   On September 25, 2012, Judge D. Michael Lynn for the United States Bankruptcy Court of the Northern District of Texas held that a “tail provision” for professional fees rendered prepetition survived – and was not cut off by – the debtor’s bankruptcy filing. In re Texas Rangers Baseball Partners, Case No. 10-43400-DML, 2012 WL 4464550 (Bankr. N.D. Tex. Sept. 25, 2012).   Background   Texas Rangers Baseball Partners (Partners) is a ge