Information on Corporate Bankruptcy Proceedings in Delaware and Throughout the United States
Introduction
On May 1, 2009, Magna Entertainment (“Magna”) filed a motion in the United States Bankruptcy Court for the District of Delaware whereby it sought authority to schedule an auction, receive approval of auction bid procedures and proceed with the sale of assets (the “Sale Motion“). I have previously written about bankruptcy sale…
Introduction
Magna Entertainment Corp. (“Magna”), one of the largest owner/operators of horse racetracks in the United States, filed for bankruptcy in the United States Bankruptcy Court for the District of Delaware on March 5, 2009. As reflected in the Affidavit in Support of Magna’s First Day Motions, besides operating racetracks, Magna provides simulcast “live…
