Indy Downs Gets Go-Ahead To Settle $50M Contract Claims

Law360, Wilmington (July 17, 2012, 9:03 PM EDT) -- Resolving a dispute that had plagued its bankruptcy from the outset, Indianapolis Downs LLC won court approval Tuesday for a settlement that dispenses with some $50 million in contract and trademark licensing claims from the horse track and casino operator’s former management company.

At a court hearing in Wilmington, Del., U.S. Bankruptcy Judge Brendan L. Shannon cleared the $3.5 million settlement with two Cordish Co. units that have been locked in fierce litigation with Indianapolis Downs for months over a casino management contract and trademark licensing...
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