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#1
11-29-2007, 01:19 PM
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NYRA getting ducks in row..
The New York Racing Association on Wednesday cleared two major hurdles in its bid to get out of bankruptcy and continue running Saratoga Race Course, Belmont Park, and Aqueduct.
A United States Bankruptcy Court approved NYRA’s disclosure statement, detailing its reorganization plan, which now goes to creditors for their approval. Also, the Internal Revenue Service announced that it was lowering its claim against NYRA from $1.6-billion to no more than $25-million. The final settlement could be anywhere from $2-million to $15-million. http://www.thoroughbredtimes.com/news/printable.aspx
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