Kukla's Korner Hockey
NHL Sues Jerry Moyes
by Paul on 03/05/10 at 09:01 PM ET
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from Reuters,
The National Hockey League on Friday sued former Phoenix Coyotes owner Jerry Moyes, seeking to recover more than $61 million over the trucking magnate’s management of the struggling franchise….
The NHL filed its lawsuit with the New York State Supreme Court in Manhattan, where the league is based.
It accused Moyes of violating an agreement he had entered with the league by refusing to fund the Coyotes’ obligations; secretly entering sale talks with Balsillie, who hoped to move the team to Hamilton, Ontario; and filing a bankruptcy petition to accomplish that sale without league approval.
According to the complaint, the NHL is seeking $30 million for violations of the agreement, $10 million for aiding and abetting violations of the Coyotes’ fiduciary duty to the league, $10 million of punitive damages, and $11.6 million to cover amounts that the NHL paid to Coyotes creditors.
Filed in: NHL Teams, Phoenix Coyotes | KK Hockey | Permalink
Tags: Jerry+Moyes,
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