Indy Downs Wins Approval Of Amended Dual-Track Ch. 11 Plan

Law360, Wilmington (June 21, 2012, 6:24 PM EDT) -- A Delaware judge on Thursday approved the amended disclosure statement of Indianapolis Downs LLC, allowing the bankrupt racetrack and casino operator to proceed with a dual-track Chapter 11 plan comprising an auction backed up by a recapitalization.

U.S. Bankruptcy Judge Brendan L. Shannon signed off on the recently revised statement after overruling objections that there had not been time since its submission on Monday to digest the many additional details it included. The amended Chapter 11 plan provides parallel paths toward conformation, with the preferred route...
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