TAILIEUCHUNG - ross perot jr sues mark cuban claims mavericks insolvent

Tham khảo sách 'ross perot jr sues mark cuban claims mavericks insolvent', kinh doanh - tiếp thị, quản trị kinh doanh phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả | CAUSE NO. HILL WOOD INVESTMENT PROPERTIES III LTD. individually and on behalf of DALLAS BASKETBALL LIMITED D B A DALLAS MAVERICKS IN THE DISTRICT CỖURÍ. Plaintiff JUDICIAL DISTRICT vs. RADICAL MAVERICKS MANAGEMENT LLC and DALLAS BASKETBALL LIMITED D B A DALLAS MAVERICKS Defendants. DALLAS COUNTY TEXAS PLAINTIFF S ORIGINAL PETITION Plaintiff Hillwood Investment Properties III Ltd. Hillwood individually and on behalf of Dallas Basketball Limited d b a Dallas Mavericks DBL files this Original Petition against Defendants Radical Mavericks Management LLC RMM and DBL and states INTRODUCTION 1. DBL operates the Dallas Mavericks a professional basketball team pursuant to a franchise from the National Basketball Association the NBA . Entities controlled by and affiliated with Mark Cuban Cuban acquired a majority ownership interest in DBL in 2000. Since that time Cuban has led the Dallas Mavericks to success on the basketball court. However this success has come at a great cost. DBL has made a litany of questionable business financial and personnel decisions through the years that have placed DBL in the position of not being able through its own revenues to pay its PLAINTIFF S ORIGINAL PETITION - Page 1 debts as they become due thereby forcing DBL to rely heavily on borrowings which DBL does not have the financial resources to repay to meet ongoing financial obligations and putting its long-term viability in serious question. Despite the fact that DBL s revenue has increased during Cuban s tenure DBL has not been profitable. In the fiscal year ended June 2009 DBL incurred a net loss of more than 50 million. Under Cuban s stewardship DBL s debt has steadily increased and now likely exceeds 200 million. DBL s internal financial projections show that downward spiral continuing at an alarming pace through the four year period ending June 2013 with the projected interest bearing debt balance reaching more than 281 million during that period. 2. Also contributing to DBL s dire .

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