NYRA Wins Extension Of Exclusive Period

Law360, New York (March 20, 2007, 12:00 AM EDT) -- A bankruptcy judge on Monday partially granted the New York Racing Association's request for an extension, allowing the racetrack owner to keep hold of the reins of its Chapter 11 reorganization plan until at least July 16, 2007.

The NYRA asked for an extension till January 2008, claiming that it could not come up with a strategy to reorganize until it knew whether it would win a contract renewal from New York State for its racetracks.

“NYRA cannot, at this juncture, propose a definitive Chapter 11...
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