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  • Bustin Stones sire of Bustinattheseams 1st Mdn (May 23, 2nd BEL). Owner, Bourque Goldstein Thoroughbreds LLC; Breeder, Eaton & Thorne, Inc....
  • City Weekend sire of City Sweets 1st Mdn (May 23, 3rd IND). Owner, Mast Thoroughbreds LLC; Breeder, Robert Gorham & Mast Thoroughbreds LLC...
  • Include sire of Window Boy 1st Grover (Buddy) Delp Memorial S. (May 23, 8th DEL). Owner, Luis Arenas; Breeder, Shelby Lane Farm Inc. & IncludeSyndicate...
  • Mancini sire of Ride Around Sally 1st Alw (May 23, 6th IND). Owner, Joe Uliano; Breeder, Spade Stable...
  • Petionville sire of Wups 1st Thoroughbred Maiden Derby (May 23, 9th BOI). Owner, Paul Treasure; Breeder, Michael Iavarone...
  • Indian Charlie sire of Nechez Dawn 1st Alw (May 23, 7th AP). Owner, Tresner, Coby and Matsas, Alex; Breeder, B. P. Walden Jr., Hargus Sexton & SandraSexton...
  • Strut the Stage sire of Head Honcho 1st Alw (May 23, 7th WO). Owner, Annecchini and D'Alimonte Holdings Inc. and Kingfield Farm; Breeder, William D. Graham...
  • Philanthropist sire of Rob the Cradle 1st Alw (May 23, 2nd WO). Owner, Andrews, Denny and Paradox Farms Inc.; Breeder, Gardiner Farms Limited...
  • Proud Citizen sire of Citizen Kat 1st Alw (May 23, 7th PEN). Owner, Midwest Thoroughbreds, Inc.; Breeder, Mark Reid & Charles Zacney...
  • Hard Spun sire of Gleaning 1st Mdn (May 23, 4th PID). Owner, Robert T. Manfuso; Breeder, Nursery Place & Robert T. Manfuso...
  • Yankee Gentleman sire of Little Dale 1st Alw (May 23, 7th BEL). Owner, Vaccarezza, Priscilla, Amante, Anthony and Garrity, Christine; Breeder, Philip Birsh...
  • Luftikus sire of Joyful Kiss 1st Alw (May 23, 7th CT). Owner, Winfred L. Hess, Jr.; Breeder, Ann M. Casey...
  • Posse sire of Parody 1st Alw (May 23, 4th PEN). Owner, Midwest Thoroughbreds, Inc.; Breeder, Don Mattox & Pam Mattox...
  • Jazil sire of Love Me Good 1st Mdn (May 23, 2nd PID). Owner, Sheltowee Farm and Blazing Meadow Farm; Breeder, Sheltowee Farm...
  • Hard Spun sire of Ribbon Taffy 1st Mdn (May 23, 5th IND). Owner, Pucek, John Paul and Marcinek, Paige; Breeder, Matthew R. Herbener...
  • Medaglia d'Oro sire of Dealer 1st Alw (May 23, 8th CT). Owner, Coleswood Farm, Inc.; Breeder, Family Broodmare, LLC...

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Court probably will postpone some key Magna issues

Posted: Wednesday, April 01, 2009 5:57 PM

by Frank Angst

Key decisions on the sale of Magna Entertainment Corp. racetracks probably will not be made this week after all.

The United States Bankruptcy Court for the District of Delaware had originally scheduled a meeting on the sale of the bankrupt racetrack owner’s properties for Friday, but those decisions no longer seem likely.

The court filed an updated agenda for Friday’s meeting in Wilmington, Delaware, and it is likely that Magna will reschedule discussion regarding the sale of its assets.

“The debtors expect to reach an agreement to continue this matter to a hearing date to be determined,” the court said. “When the debtors have reached an agreement to continue this matter, they intend to request permission to file an amended agenda.”

There are two items concerning the sale of Magna tracks on the agenda. One item involves Magna’s parent company MI Developments Inc. submitting a stalking horse bid of $195-million for Magna tracks and properties, including Gulfstream Park. The other item concerns the sale of all other Magna properties not in the stalking horse bid, which includes Santa Anita Park.

Various creditors have filed objections to both plans.

The court also expects Magna to request a new hearing date regarding funding of its daily operations.

Items expected to be discussed at the hearing that have not had any objections include approval of Magna special counsel and consultants.

Frank Angst is senior staff writer of THOROUGHBRED TIMES

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