stronach bankruptcy

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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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 DETAILS: REVENUE, EMPLOYEES AND CREDITORS

By Ray Paulick The volume of paperwork in Magna Entertainment’s chapter 11 bankruptcy filing last Thursday yielded some interesting details about the Frank Stronach-controlled company, its operations and creditors (tens of thousands of which were listed on more than 500 pages of documents). But pleadings from the company’s attorneys in federal bankruptcy court […]

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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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