NYRA Fights NYC Off-Track Betting's Ch. 9 Petition

Law360, New York (April 6, 2010, 6:23 PM EDT) -- The New York Racing Association Inc. has appealed an order overruling its objection to New York City Off-Track Betting Corp.'s Chapter 9 petition, which NYRA says was inappropriate because the state Legislature had not specifically authorized the municipality bankruptcy.

NYRA, which is one of state-owned NYC OTB's creditors, on Monday filed its notice of appeal of U.S. Bankruptcy Judge Martin Glenn's March 22 order to the U.S. District Court for the Southern District of New York.

The racing association had contended that not only was NYC...
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