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MEC Reorganization Plan Scrapped

MEC Reorganization Plan Scrapped

Magna Entertainment Corp. said Feb. 18 it might not be able to meet pressing financial obligations unless alternative measures are found, a revelation disclosed following the sudden halt of a controversial reorganization proposal for the company and its controlling shareholder, MI Developments.

 Thursday, February 19, 2009
Greenlight Rips MEC Reorganization Plan

Greenlight Rips MEC Reorganization Plan

A longtime adversarial shareholder in MI Developments has blasted the latest reorganization proposal to spin-off subsidiary Magna Entertainment Corp., a plan which includes $75 million in funding for a potential slots parlor at Laurel Park in Maryland.

 Tuesday, February 10, 2009