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Judge Approves NYRA's Disclosure Statement

Law360 (November 30, 2007, 12:00 AM EST) -- A bankruptcy court judge has approved the New York Racing Association Inc.'s disclosure statement, paving the way for creditors to vote on its reorganization plan.

Judge James M. Peck of the U.S. Bankruptcy Court for the Southern District of New York said Thursday that the disclosure statement contained adequate information. He then scheduled a confirmation hearing for Dec. 27.

According to the disclosure statement, NYRA will receive a 30-year thoroughbred racing franchise from New York state to run the Aqueduct, Belmont and Saratoga racetracks. The state...
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