Magna gets court OK to hold sale auction for Maryland Jockey Club

By Alice Popovici

New York, Oct. 29 - Magna Entertainment Corp. received court approval to hold an auction for the proposed sale of the Maryland Jockey Club, according to a Wednesday filing with the U.S. Bankruptcy Court for the District of Delaware.

Bids are due by Nov. 2. The auction is scheduled for Jan. 8.

The sale hearing is scheduled for Jan. 11.

Magna, an Aurora, Ont.-based owner and operator of horse racetracks, filed for bankruptcy on March 5, 2009. Its Chapter 11 case number is 09-10720.

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