In five short months, the Texas Rangers went from bankruptcy to playing in the World Series. The Texas Rangers filed for bankruptcy under Chapter 11 of the U.S. Bankruptcy Code in May of 2010. The filing included a number of unsecured creditors, including several current or former players. Alex Rodriguez headed the list with $24.9 million in deferred compensation, owed six years after he was traded. Kevin Millwood, Michael Young, Vicente Padilla and Mickey Tettleton were also on the list.

Former Rangers owner, Tom Hicks, filed for bankruptcy four months after he announced an agreement to sell the team. The plan was presented with the intention of removing the team from additional claims from creditors against Hicks Sports Group that held up the sale. The Chapter 11 bankruptcy plan also included paying off all of the team's debt in full.

Bankruptcy may be a solution for individuals and businesses, large and small, to seek relief from overwhelming debt. These matters are best approached with a competent attorney at your side. At the Malaise Law Firm, we represent debtors throughout Houston and all of Texas in their bankruptcy filings.

Contact a Houston Bankruptcy Lawyer at our law offices today to discuss your case.