Furthermore, the commencement of bankruptcy proceedings arguably could affect the rights of the league and the other Predators owners to block the sale of Del Biaggio's stake to the highest bidder.

The 16-page document, which was released late yesterday, said that in regard to United States assets, the administrators would attempt to obtain the consent of the examiner and would obtain the approval of the bankruptcy court before a variety of decisions including the sale of assets or shares, or the commencement of bankruptcy proceedings.