NYC Off-Track Betting's Ch. 9 Case Shut Down

Law360, New York (January 26, 2011, 4:19 PM EST) -- A federal judge has closed the books on New York City Off-Track Betting Corp.'s municipal bankruptcy, agreeing that the state Legislature's failure to adopt vital changes to racing law thwarted any chance of the debtor confirming a reorganization plan.

Judge Martin Glenn of the U.S. Bankruptcy Court for the Southern District of New York on Tuesday granted the debtor's motion to dismiss without prejudice its Chapter 9 bankruptcy, finding that many of NYC OTB's creditors are being substantially harmed by its failures to complete a plan...
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.