Don't really have a problem with Isgur's handling of the case although I don't agree with his optimism about the viability of CSN Houston.
Don't know why people are blaming the judges. It's not like that the situation would have been wonderful if only the judges wouldn't have screwed it up. In fact, the parties not being able to find a business solution for anything is how they got into the courts in the first place.
I don't think the courts have helped the situation very much, though... do you? Hence this side meeting, which may or may not lead to anything... but certainly is designed to try to expedite what has been a total quagmire. It also seems like the ultimate "solutions" are the same ones that were on the verge of happening before the BK was filed. The courts have done a good job of illustrating just how long, tedious and expensive a process this can be, with no end in sight.
Exactly The notion that parties just walk out of agreements of this financial magnitude and as contentious as this has become without legal intervention is extremely naive. Meanwhile some of the antics may have scorched this market and the dream deal some are looking for is gone anyway. I hope the Judge can convince all parties to adjust their expectations and move forward. This has become an embarrassing mess that should have been handled without being drug in to the courts via bankruptcy proceedings or frivolous lawsuits.
The American court system is not designed to force a quick solution on any quagmire situation. There are all kinds of procedural safeguards (every party must have an notice and opportunity to be heard before decision is made by a court, and can appeal if they are not happy with the decision) put in so that a judge just can not just make a quick decision and make the parties live with it. More specifically in the bankruptcy court, a judge isn't even allowed to just come up with a plan to fix an insolvent company. Instead, the court is, by law, supposed to give the parties involved an opportunity to come up with a "plan of reorganization" for the company, along with a voting process that ensures that all the relevant parties in interest are heard and then the court is to preside over the voting and confirmation and decide whether the plan satisfies the law. The way that a court case can help solve a situation with any kind of quickness is for a court's ruling (or other events, like important information coming to light during discovery) to make the parties re-assess their potential for a litigated success and then come to a consensual compromise in light of the ruling. In this case, the issue is that the parties still have not reached a point where they are willing or able to find a compromise, or a solution for CSNH, in light of the rulings made so far in this case (the order for relief putting CSNH in chapter 11). The court is doing what it is supposed to do-- giving CSNH a "breathing spell" from its debt burdens and giving the parties a chance to come up with a plan to reorganize and save it. At some point, if the parties continue to be unable to come up with a plan (to be passed with or without the consent of each of the major parties in interest ), the court will order the liquidation of CSNH and pull the plug, but it's only been a few months since the involuntary case was filed and even less time since the order for relief was entered (which is what starts the clock on the reorganization process). Sure people get impatient, but CSNH was deadlocked and unable to find carriage deals for even longer before the court case began. The whole thing is in the courts because this is where the Constitution and our system of government allow parties to settle their disputes and deal with insolvency situations-- as opposed to, say, trial by combat where each of Les Alexander, Jim Crane and Comcast select a champion in a 3 way battle to the death. The laws also say we don't just liquidate every company that is in trouble, be it CSNH or Hometown Buffet. In some countries, they do tend to liquidate as a matter of statute or the way the courts enforce them, but not in the US (and AFAIK, the trend is for most advanced economies to have some sort of reorganization option in their insolvency system).
I get all that... just looking back at the people who said that now that the judge has "ruled", things could move swiftly. That was more than 2 months ago, and all that has happened since is that Comcast said they won't be buying the network. And if this ends with a liquidation, or the channel being disbanded, you can't say that wouldn't have happened 7 months ago had the Astros been allowed to take back their media rights (which they were contractually allowed to do, since they weren't being paid for it). I know they have to let it play out now... just saying that the only one who "wins" with all of this is the lawyers.
I don't recall anybody saying that this would move swiftly once it was in Chapter 11. In fact, quite the opposite.
Barron was there. This is his last tweet. I wonder if he got comments from Rockets/Astros and is writing his story now?? They met from 10am to 5pm so hopefully something comes out of it. <blockquote class="twitter-tweet" data-partner="tweetdeck"><p>Things are winding down at the federal courthouse. Comcast group left at 5:15 p.m. with no comment.</p>— David Barron (@dfbarron) <a href="https://twitter.com/dfbarron/statuses/449671483099320320">March 28, 2014</a></blockquote> <script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script> Then there is this: <blockquote class="twitter-tweet" data-partner="tweetdeck"><p>It appears that Judge Hughes was unsuccessful in his attempts to bring the <a href="https://twitter.com/CSNHouston">@CSNHouston</a> fiasco to an end. That's not too surprising, though.</p>— John Royal (@John_Royal) <a href="https://twitter.com/John_Royal/statuses/449679794230149120">March 28, 2014</a></blockquote> <script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script>
http://blog.chron.com/ultimateastro...hes-hosts-seven-hour-session-on-csnh-debacle/ Judge Lynn Hughes hosts seven-hour session on CSNH debacle Posted on March 28, 2014 at 7:36 pm by David Barron in General Officials with the Astros, Comcast and Rockets let the federal courthouse Friday afternoon with kind words for U.S. District Judge Lynn Hughes but no substantive comment about the nature of their seven-hour, closed-door session with the judge regarding Comcast SportsNet Houston. Hughes, who is hearing the Astros’ appeal of a Feb. 4 order placing the CSN Houston partnership under Chapter 11 protection, apparently staged individual conferences and group sessions with Rockets owner Leslie Alexander, Astros owner Jim Crane, Comcast executive Robert Pick and assorted team and network executives and attorneys during the daylong conference. Crane said Hughes “did a good job trying to get everybody to the middle, and we’ve got some more work to do.” Rockets CEO Tad Brown said, “We thank (the judge) for his time.” Comcast officials had no comment. Hughes said in an order setting up the closed-door conference in his chambers that his intent was to “informally discuss a resolution” of the issues that have plunged CSN Houston into bankruptcy and triggered a lawsuit filed by Crane’s Houston Baseball Partners against Comcast and former Astros owner Drayton McLane. Crane said he did not know if Hughes planned additional private sessions with the teams and network representatives.
http://blog.chron.com/ultimateastros/2014/03/29/astros-rockets-and-comcast-sign-mediation-agreement/ The Astros, Comcast and Rockets have agreed to allow U.S. District Judge Lynn Hughes to mediate a potential resolution in the Comcast SportsNet Houston bankruptcy case. Rockets owner Leslie Alexander, Astros owner Jim Crane and a Comcast executive signed the mediation agreement during a seven-hour, closed-door session Friday with Hughes, who is hearing the Astros’ appeal of an order placing CSN Houston under Chapter 11 protection. The parties agree in the document to allow Hughes to mediate their dispute and agree that he can continue to preside over the bankruptcy appeal. The order also opens the possibility of more mediation sessions with the judge. U.S. Bankruptcy Judge Robert Isgur agreed last month to place the troubled regional sports network under bankruptcy protection. The Astros appealed that order to Hughes, who summoned executives of all three companies to his chambers Friday to discuss a resolution. None of the parties have commented on details of the Friday session. CSN Houston has been unable to achieve widespread distribution or to turn a profit since it launched in October 2012. The network was unable to pay the Astros’ broadcast rights fees last year, and four Comcast affiliates filed an involuntary Chapter 11 petition to prevent the Astros from withdrawing their broadcast rights, which would have effectively killed the network. The network remains on the air and is paying employees and vendors but does not have enough money to pay the Rockets’ rights fees. As of the end of March, the network owes $36 million to the Rockets and $27 million to the Astros.
The presiding judge is the Honorable Marvin Isgur. I have no idea who the Robert Isgur referenced in the article is.
L.O.L. EAD Comca$h. I don't even really care any longer, that's what happens when you take away our teams for 2 years from television. Keep sinking.
LOL...Best post in the thread. Honestly though...if he can't get the name of the judge right, what else has he gotten wrong?
This thing has become farcical. It was originally a way for Comcast to buy the entire network. That, I think, has become clear. Comcast got in their own way when they agreed to the TWC merger. Because of the regulatory boondoggle that caused, Comcast no longer can buy the network. The result? A network with no real options to reorganize (except maybe an auction) and the fans have little to no chance to see their teams anytime soon.
