Magna Spurs Sale Of Pimlico Race Track

Law360, New York (October 14, 2009, 7:56 PM EDT) -- The judge overseeing Magna Entertainment Corp.’s reorganization has approved the bidding procedures for the sale of Maryland's Pimlico Race Course, home to the Preakness Stakes, and Laurel Park race course, hastening the auction over objections from the former owners and state authorities.

On Wednesday, Judge Mary F. Walrath of the U.S. Bankruptcy Court for the District of Delaware approved Magna’s bidding procedures for the storied racecourses and scheduled the auction for Jan. 8, 2010, passing over protests that the hearing for the auction not be carried...
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