Coyotes Hockey disclosure approved; plan hearing set for Feb. 23

By Caroline Salls

Pittsburgh, Jan. 12 - Dewey Ranch Hockey, LLC debtor Coyotes Hockey, LLC received court approval of the disclosure statement for its plan of reorganization, according to a Wednesday filing with the U.S. Bankruptcy Court for the District of Arizona.

The plan confirmation hearing is scheduled for Feb. 23.

The plan does not address the assets and debt of any of the other debtors, including Dewey Ranch, according to the disclosure statement.

Under the Coyotes Hockey plan:

• Holders of administrative claims and priority claims will be paid in full in cash;

• Holders of general unsecured claims will receive a beneficial in a liquidation trust to be created under the plan;

• Holders of National Hockey League subordinated claims will receive a beneficial interest in the liquidating trust in accordance with subordination provisions included in the company's asset sale agreement; and

• Equity interest holders will receive no distribution.

Dewey Ranch Hockey, LLC, Arena Management Group, LLC, Coyotes Holdings, LLC and Coyotes Hockey, LLC were the owners of the Phoenix Coyotes NHL team. The owners filed for bankruptcy on May 5, 2009. Their Chapter 11 case number is 09-09488.

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