NYRA Disclosure Is Full Of Holes: Creditors

Law360, New York (November 13, 2007, 12:00 AM EST) -- The unsecured creditors committee on Monday railed against the New York Racing Association Inc.'s recently filed disclosure agreement, arguing that the racetrack owner's motion to approve its Chapter 11 package ought to be denied in its entirety.

“In the hope of appeasing the State of New York and thereby securing a long-term extension of its franchise to conduct racing, the cebtor has filed a disclosure statement that lacks adequate information about its plan, which is premature, patently unconfirmable, and manifestly not in the best interest of...
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