MI Developments drop bid for race-track assets
By admin | April 22, 2009
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As reported by the Globe and Mail: MI Developments Inc. has deserted a stalking pony offer as being a considerable number of the tracks and real effects of its Magna Entertainment Corp. (MEC) one, online casino guide, that is operating condition of chapter 11 bankruptcy refuge.
The real order company aforesaid it may bid conducive to a certain quantity of of the assets in regulate to heal money without interruption loans it made to MEC.
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…MI Developments is providing $38.4-million (U.S.) in debtor-in-possession financing to MEC, that owns several most important U.S. tit tracks… at rest
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