Dallas PE Firm Largely Cleared in $180M Alliance of American Football Bankruptcy Case

A bankruptcy judge in San Antonio has determined that Dallas-based investment firm Dundon Capital Partners, the biggest investor in the bankrupt Alliance of American Football, does not owe its creditors $180 million.

A 199-page ruling issued Tuesday from Chief U.S. Bankruptcy Judge Craig A. Gargotta largely cleared DCP and its executives, Tom Dundon and John Zutter, of claims of breach of contract, fraud and breach of fiduciary duty related to the demise of the AAF, a minor league football team that collapsed and filed for Chapter 7 bankruptcy in 2019 during its inaugural season.