ERIE, Pa. -- A federal bankruptcy judge has dismissed the Chapter 11 bankruptcy case filed by the former owner of the Erie Otters junior hockey team.
The Erie Times-News reports Thursday that the bankruptcy was dismissed for the most unusual of reasons: All creditors have been fully paid.
Former owner Sherry Bassin filed Chapter 11 in April largely because of a $4.8 million debt claimed by the National Hockey League's Edmonton Oilers, the team's biggest creditor.
Bassin sold the Ontario Hockey League franchise to retired Canadian broadcaster James Waters for $7.