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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.