MCNALL'S STAKE IN THE KINGS TURNED OVER TO A TRUSTEE
A dispute over who will control L.A. Kings President Bruce
McNall's assets -- including his remaining 28% in the Kings --
"has been resolved, with McNall agreeing to turn over clear
control to a court-appointed bankruptcy trustee." The agreement
gives trustee R. Todd Neilson "clear authority to sell McNall's
interest in the Kings at some point. No sale is planned, and
Neilson has agreed to abide by NHL rules requiring league
approval if he chooses to sell the stake." The agreement also
states Neilson is not waiving his rights to potentially challenge
McNall's sale of 72% of the team to Jeffrey Sudikoff and Joseph
Cohen. "Sources, however, indicate that such a challenge is
unlikely and that Neilson is simply preserving his rights."
Attorneys for McNall and the trustee "hailed" the agreement as a
positive step (OTTAWA CITIZEN, 9/29).