Post by trigger204 on Apr 25, 2011 13:42:46 GMT -5
From what I understand, the money was already transferred into an escrow account and will be the property of the NHL once it provides proof of losses. GWI has said they will sue if it tries it again. I think that they were not fully aware of this on time to take action the first time around.
Post by jetsorbust on Apr 25, 2011 13:48:19 GMT -5
My understanding of it is as follows:
1) They (Glendale) put $25 Million into an escrow account, meaning the NHL can take it out if and when they choose to. They have not yet taken any out however, because
2) Goldwater has not sued because so far the money has not been spent. I can't remember if Goldwater came out and said this directly or not, but purportedly they will sue if and when the NHL takes the money out.
Lawyers on this site believe they could potentially sue now rather than waiting for the NHL to withdraw the money, but general speculation over the past year is that Goldwater won't sue until the money is actually transferred to the NHL, triggering an official "transaction".
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