Milbank Partners Recognized by National Law Journal for Texas Rangers Auction

WASHINGTON, DC, June 21, 2011 –  National Law Journal's 2011 "Winning" list of the country's best litigators recognized 14 successful lawyers and their powerful strategies who obtained some of the most significant wins in the past year. Milbank partners Andrew Leblanc (Financial Restructuring and Litigation) and Alan Stone (Litigation) were recognized for their work in representing a group of lenders in the complex sale of the bankrupt Texas Rangers to Major League Baseball Hall of Famer Nolan Ryan. After months of contentious litigation, Milbank succeeded in forcing an auction for the Rangers at a price significantly higher than what was originally proposed in the plan.  The final sale price reflected the highest price as a multiple of revenue ever paid for a baseball team in the history of Major League Baseball, and a 60% increase (more than $100 million) in the value recovered by the lenders.

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