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TITLE Supreme Court en banc Decision 2016Da220143 Decided October 18, 2018 【Return of Security Deposits for Membership】 [full Text]
Summary
In a case where an essential sports facility, which is subject to a security trust agreement, is transferred en bloc through either sale proceedings by an open competitive bid process or a negotiated contract, pursuant to what is prescribed under the relevant security trust agreement, whether a person acquiring the facility succeeds to the rights and obligations entailed by the registration and reporting of sports facility business, including matters agreed upon between the sports facility business entity and its members (affirmative)
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