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Deal with Churchill unravels

By Marcus Hersh
Daily Racing Form

Tuesday, April 20, 2004

A proposed deal that would give Churchill Downs Inc. control of Fair Grounds Race Course in New Orleans has all but unraveled, according to a bankruptcy lawyer involved in the case. Barring a last-gasp agreement, Fair Grounds was expected to file a reorganization plan that will lead to an auction of the property in bankruptcy court. The reorganization filing was due on Monday. Douglas Draper, the bankruptcy attorney, estimated that bankruptcy proceedings could begin in 90 to 120 days. The prop ...

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