magna bankrupt

LIENS FILED ON HORSES AT PALM MEADOWS

By Ray PaulickOne of the creditors in the Magna Entertainment bankruptcy, citing a Florida statute that deals specifically with suppliers of feed and bedding products to facilities where racehorses, polo ponies and racing greyhounds are stabled, has filed liens on hundreds of horses located at Magna’s Palm Meadows training center in Florida. Wood Mulch Products of Orlando, Fla., […]

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MINOR TO MAKE BID ON BANKRUPT MAGNA

By Ray PaulickHalsey Minor, the Internet entrepreneur and Thoroughbred owner and breeder who made a failed bid to buy Hialeah Park from John Brunetti last year, is poised to make an offer to reorganize bankrupt Magna Entertainment (MEC) and take control of the company from founder Frank Stronach, the Paulick Report has learned. The […]

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MAGNA: HOW DID WE GET HERE?

By Ray Paulick(UPDATE: Magna Entertainment filed for Chapter 11 bankruptcy protection today. Click here for the company press release, with details on the filing.)  What a long, strange trip it’s been. Hard to believe, but it’s been just over 10 years since Frank Stronach dove head-first into racetrack ownership with his December 1998 […]

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WHAT NEXT FOR MAGNA?

By Ray Paulick While Thursday’s Chapter 11 bankruptcy filing by Magna Entertainment (MEC) leaves a multitude of unanswered questions about the future of the racetracks the Frank Stronach-controlled company owns, there was a positive reaction from the investment community concerning MI Developments — another Stronach company spun off from the auto parts mothership Magna International — […]

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MAGNA SMACKDOWN: NORTH RUN ADVISORS, NASDAQ PILE ON

By Ray PaulickAnother day, another Schedule 13D filing with the Securities and Exchange Commission from an institutional investor concerning MI Developments, the parent company of bankrupt Magna Entertainment, the racing company created by Eclipse Award-winning Thoroughbred owner and breeder Frank Stronach. Monday’s filing came from North Run Advisors, a Boston-based investment firm that spent […]

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MAGNA PARENT WANTS TO CLOSE GOLDEN GATE FIELDS

By Ray Paulick Racing in Northern California, scrambling to recover from the loss of Bay Meadows racetrack, which was closed in 2008 for planned development, also faces the bulldozing of Golden Gate Fields, the parent company of bankrupt owner Magna Entertainment stated in a Securities and Exchange Commission filing on Tuesday. MI Developments […]

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