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  • City Weekend sire of City Sweets 1st Mdn (May 23, 3rd IND). Owner, Mast Thoroughbreds LLC; Breeder, Robert Gorham & Mast Thoroughbreds LLC...
  • 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...
  • Holy Bull sire of Catalan 1st Alw (May 24, 8th BEL). Owner, Elizabeth Loftus; Breeder, B. P. Walden & Dr. S. Marcum...
  • First Samurai sire of Nakano 1st Alw (May 24, 8th CRC). Owner, Thoroughbred Futures Racing; Breeder, Hubert Vester...
  • Canadian Frontier sire of Golden Frontier 1st Alw (May 24, 3rd CD). Owner, George Fister; Breeder, Brereton C. Jones...
  • Benchmark sire of Planet Sunshine 1st Alw (May 24, 5th GG). Owner, Thomas A. Shapiro; Breeder, Thomas Shapiro...
  • Flower Alley sire of Bouquet Booth 1st Alw (May 24, 7th CD). Owner, Right Time Racing LLC; Breeder, Brookdale & Dr. Ted Folkerth...
  • Hard Spun sire of Gleaning 1st Mdn (May 23, 4th PID). Owner, Robert T. Manfuso; Breeder, Nursery Place & Robert T. Manfuso...
  • Chapel Royal sire of Mr Rodriguez 1st Mdn (May 24, 2nd BEL). Owner, Imperio, Michael and Loftus, Elizabeth; Breeder, Jill Imperio & Daniella Corian...
  • Arch sire of Wiki 1st Alw (May 24, 2nd PID). Owner, Midwest Thoroughbreds, Inc.; Breeder, Stuart S. Janney, III LLC....
  • Smoke Glacken sire of Walker Bay 1st Alw (May 24, 8th CD). Owner, Hammersmith, Dennis L. and Paden Racing, Inc.; Breeder, Brian O'Rourke & Derry Meeting Farm...
  • Proud Citizen sire of Citizen Kat 1st Alw (May 23, 7th PEN). Owner, Midwest Thoroughbreds, Inc.; Breeder, Mark Reid & Charles Zacney...
  • Tribal Rule sire of Italian Rules 1st Alw (May 24, 7th BHP). Owner, Barber, Gary and Cecil; Breeder, Nick Cafarchia...
  • Jazil sire of Love Me Good 1st Mdn (May 23, 2nd PID). Owner, Sheltowee Farm and Blazing Meadow Farm; Breeder, Sheltowee Farm...
  • Luftikus sire of Joyful Kiss 1st Alw (May 23, 7th CT). Owner, Winfred L. Hess, Jr.; Breeder, Ann M. Casey...
  • Latent Heat sire of Heated Troubles 1st Mdn (May 24, 5th RD). Owner, Ashleigh Stud; Breeder, Ashleigh Stud, Frank Ramos & JackieRamos...
  • 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...
  • 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...
  • Petionville sire of Wups 1st Thoroughbred Maiden Derby (May 23, 9th BOI). Owner, Paul Treasure; Breeder, Michael Iavarone...
  • Wando sire of Deb's Girly Girl 1st Alw (May 24, 6th RD). Owner, Deborah F. Metz; Breeder, Deborah F. Metz...
  • Mancini sire of Ride Around Sally 1st Alw (May 23, 6th IND). Owner, Joe Uliano; Breeder, Spade Stable...
  • Posse sire of Parody 1st Alw (May 23, 4th PEN). Owner, Midwest Thoroughbreds, Inc.; Breeder, Don Mattox & Pam Mattox...
  • Philanthropist sire of Rob the Cradle 1st Alw (May 23, 2nd WO). Owner, Andrews, Denny and Paradox Farms Inc.; Breeder, Gardiner Farms Limited...

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MEC creditors begin to file

Posted: Wednesday, March 11, 2009 3:12 PM

by Frank Angst

The anticipated long list of creditors expected to file in the Magna Entertainment Corp. bankruptcy is beginning to build.

Through Tuesday, four entities had filed as creditors in the racetrack owner’s Chapter 11 bankruptcy case in United States Bankruptcy Court for the District of Delaware. Those filers include The Pepsi Bottling Group Inc., Greenlight Capital Inc., PNC Financial Services, and Wells Fargo and Co.

Magna has filed a list of more than 33,500 potential creditors, but that list is expected to be reduced by as much as 67%.

In a special California Horse Racing Board meeting on March 6, a Magna representative said that the company would soon pay many of the listed creditors. Gregg Scoggins, national director of regulatory affairs for Magna, specifically cited horsemen. While horsemen may currently be listed as creditors, Scroggins said horsemen’s accounts are separate from the bankruptcy and those accounts will be squared.

Scoggins was less confident about the listed racetracks and secondary pari-mutuel outlets in the bankruptcy. At the least, delays are likely. Brian Wesley, of the California Attorney General's office, said this money could be settled as part of the bankruptcy.

In a response to a question about filing the bankruptcy in Delaware, Wesley said that court is well-suited and experienced in handling such cases.

Magna has submitted a list of its 50 largest creditors to the bankruptcy court. That list follows. Some creditors appear twice and some claims may be resolved before being part of the bankruptcy.

Frank Angst is senior staff writer of THOROUGHBRED TIMES

Creditors who have filed in the Magna Entertainment Corp. bankruptcy

Creditor

Estimated claim amount

Bank of New York

$127,345,313

Bank of New York

76,193,229

Maryland Thoroughbred Horsemen’s Association

3,820,500

Aon Reed Stenhouse

3,682,756

Florida Thoroughbred Breeders and Owners

2,157,327

Zurich North America

1,937,472

Racing and Gaming Services

1,763,952

Northern California Off-Track Wagering

1,662,231

California Horse Racing Board

1,374,051

Southern California Off-Track Wagering

1,194,623

Magna International Inc.

845,892

New York Racing Association

830,175

McCasey Group

756,217

Elite Turf Club 2

695,411

Oklahoma Tax Commission

669,114

The Leffler Agency

637,487

Red Rock Administrative Services

617,561

Royal River Racing

605,791

Aristocrat Technologies

551,153

Jerry Hollendorfer or George Todaro

550,252

Los Angeles County Tax Collector

442,281

Las Vegas Dissemination

430,036

Juddmonte Farms

424,961

Southern Service Corp.

377,728

Aladema County (California) Tax

367,691

Ranger Construction-South

364,289

California Thoroughbred Business League

336,275

Leonard Powell

329,411

Jerry Hollendorfer

307,846

Gulf Greyhound

290,675

New York Racing Association

288,285

Harrah’s Louisiana Downs

274,900

Oklahoma County Treasurer

273,574

Aware Digital

270,000

Maryland Horse Breeders Association

269,800

Max International

250,416

Oklahoma Breeding Development

246,969

Fair Grounds race course

220,591

Bob Baffert

204,617

Cecil Peacock

200,547

Charles Cono

197,723

Churchill Downs Inc.

195,098

Maryland Racing Commission

193,914

Roberts Communications Network

188,005

Las Vegas Dissemination Service

185,260

Tampa Bay Downs

185,081

B. Wayne Hughes

184,882

Richard O’Neill Trust

170,516

Florida Power and Light Co.

168,000

Lathrop Hoffman

166,788

 

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