TITLE

Indianapolis Downs Files Chapter 11

AUTHOR(S)
Burton, Paul
PUB. DATE
April 2011
SOURCE
Mergers & Acquisitions Report;4/18/2011, Vol. 24 Issue 16, p4
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article announces that racetrack and casino operator Indianapolis Downs LLC filed for Chapter 11 bankruptcy protection. The said company admits that it plans to reorganize its debt as a forbearance agreement on its loan is near expiration. The company also reported a 103-million dollar commitment for debtor-in-possession financing. Chief restructuring officer Gregory Rayburn clarifies that such bankruptcy filing is different from the usual debt restructuring cases since the company's revenue and market share has grown consistently.
ACCESSION #
60173460

 

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