Maury Brown has a story up on his Biz of Baseball site, going into more details on the pre-packaged bankruptcy that the Rangers are doing to facilitate the sale of the club to the Greenberg/Ryan group...
Check it out...
UPDATE -- The S-T blog has a screenshot of one of the pages from the filings with a listing of creditors. Alex Rodriguez, Kevin Millwood, Mark McLemore, Michael Young, Mickey Tettleton, and Vicente Padilla all have big amounts still due to them from the club.
ANOTHER UPDATE -- Craig Calcaterra weighs in.