MAGNA ENTERTAINMENT CORP. Bankruptcy Filing
Case Number: 09-10720
MAGNA ENTERTAINMENT CORP. filed a 11 chapter bankruptcy in the District of Delaware bankruptcy court on March 05, 2009. This is a voluntary filing; it was assigned the bankruptcy case number #09-10720.
MAGNA ENTERTAINMENT CORP. Filing Information
The bankruptcy petition for MAGNA ENTERTAINMENT CORP. showed assets in the range of more than $1B with liabilities in the range of $500MM - $1B. MAGNA ENTERTAINMENT CORP. reports that the number of creditors is in the range of 10,001-25,000.
The debtor indicated their nature of business as 'None of the Above'. The nature of business option is fairly limited; most companies will chose 'None of the Above'. The options include: 'Health Care Business', 'Single Asset Real Estate', 'Railroad', 'Stockbroker', 'Commodity Broker', 'Clearing Bank', or 'None of the Above'.
MAGNA ENTERTAINMENT CORP. indicated on its bankruptcy petition that it does not expect there will be sufficient assets in the estate to make a payment to the unsecured creditors. This is a bad sign for creditors as it implies that no recovery is likely.
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MAGNA ENTERTAINMENT CORP. Docket Header
Exhibits, MEGA, LEAD, CLMSAGNT, APPEAL, CONFIRMED |
District of Delaware (Delaware)
Bankruptcy Petition #: 09-10720-MFW
Assigned to: Mary F. Walrath Chapter 11 Voluntary Asset |
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| Debtor Magna Entertainment Corp. 1209 Orange Street Wilmington, DE 19801 Tax ID / EIN: 98-0208374 |
rep. by |
Arielle G. Lenza
Weil Gotshal & Manges LLP 767 Fifth Avenue New York, NY 10153 Cory D. Kandestin Richards, Layton & Finger, P.A. 920 North King Street Wilmington, DE 19801 302-651-7700 Fax : 302-651-7701 Email: kandestin @ rlf.com Drew G. Sloan Richards Layton & Finger, P.A. 920 North King Street Wilmington, DE 19801 302-651-7612 Fax : 302-651-7701 Email: dsloan @ rlf.com L. Katherine Good Richards, Layton & Finger, P.A. 920 North King Street Wilmington, DE 19801 302-651-7700 Fax : 302-651-7701 Email: good @ rlf.com L. Katherine Good Richards, Layton & Finger, P.A. 920 North King Street Wilmington, DE 19801 302-651-7700 Fax : 302-651-7701 Email: good @ rlf.com Maris J. Finnegan Young Conaway Stargatt & Taylor, LLP The Brandywine Bldg. 1000 N. West Street, 17th Fl. Wilmington, DE 19801 302-571-6600 Email: bankfilings @ ycst.com Mark D. Collins Richards Layton & Finger One Rodney Square PO Box 551 Wilmington, DE 19899 302 651-7700 Fax : 302-651-7701 Email: collins @ RLF.com Tyler D. Semmelman Richards, Layton & Finger, P.A. 920 N. King Street Wilmington, DE 19801 302-651-7523 Fax : 302-498-7523 Email: semmelman @ rlf.com Tyler D. Semmelman Richards, Layton & Finger, P.A. 920 N. King Street Wilmington, DE 19801 302-651-7523 Fax : 302-498-7523 Email: semmelman @ rlf.com |
| U.S. Trustee United States Trustee 844 King Street, Room 2207 Lockbox #35 Wilmington, DE 19899-0035 302-573-6491 |
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| Creditor Committee The Official Committee of Unsecured Creditors |
rep. by | James E. ONeill
Pachulski Stang Ziehl & Jones LLP 919 North Market Street, 17th Floor P.O. Box 8705 Wilmington, DE 19899-8705 302-652-4100 Fax : 302-652-4400 Email: joneill @ pszjlaw.com Mark M. Billion Pachulski Stang Ziehl & Jones LLP 919 N. Market Street 17th Floor Wilmington, DE 19702 302-652-4100 Fax : 302-652-4400 Email: mbillion @ pszjlaw.com |