Balmoral Racing Club seeks 16-day extension of plan-filing deadline

By Caroline Salls

Pittsburgh, Dec. 10 – Balmoral Racing Club, Inc. requested an extension of its deadlines for filing a Chapter 11 plan and disclosure statement and soliciting votes on the plan, according to a motion filed Thursday with the U.S. Bankruptcy Court for the Northern District of Illinois.

The company said its exclusivity periods expired on Dec. 1, and its plan filing and solicitation deadlines are currently Dec. 15. Through Thursday’s motion, Balmoral is looking to extend the plan and solicitation deadlines for 16 days.

According to the motion, the order approving Balmoral’s asset sale procedures requires bids to be submitted by Dec. 11 and calls for a Dec. 14 auction and Dec. 15 sale hearing, the same day the plan deadlines are set to expire.

In addition, the company said the Illinois Racing Board will consider Balmoral’s application to maintain OTB and inter-tracking licenses for 2016 at its Dec. 15 meeting. The company said those licenses may be a part of the assets that an interested party will seek to buy through its sale process.

A hearing is scheduled for Dec. 15.

Balmoral is a Crete, Ill.-based racetrack operator. The company filed for bankruptcy on Dec. 24, 2014, under Chapter 11 case number 14-45711.

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