USA Cricket have filed for bankruptcy on Wednesday, Oct 1
Their application is the first-ever instance for an ICC member body
The sudden move from USAC paused the hearing with ACE
USA Cricket Files For Bankruptcy Minutes Ahead Of ACE Court Hearing
The USA Cricket Board applied for bankruptcy under Chapter 11, which is the first-ever instance for an ICC member body in the world
Summary
USA Cricket (USAC) have filed for bankruptcy on Wednesday, October 1 just minutes before their hearing in its dispute with American Cricket Enterprises (ACE).
The USA Cricket Board applied for bankruptcy under Chapter 11, which is the first-ever instance for an ICC member body in the world.
The sudden move from USAC paused the hearing that also brought ACE criticism towards the cricketing board.
“USAC could not bear for the preliminary injunction hearing to even begin, and knew the result was a forgone conclusion: it had no basis to terminate the parties’ agreement and was recklessly imperiling the success of cricket in the U.S. USAC has zero regard for the best interests of cricket and its players, and is only motivated by politics and its directors’ personal agendas”, stated an ACE representative.
USAC revealed its financial details whilst it filed for bankruptcy that included bank cash, accounts receivable, office parts, etc. were listed.
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