Legal Opinion
Magna Entertainment Corp. v. PA Meadows, LLC (In Re Magna Entertainment Corp.)
United States Bankruptcy Court, D. Delaware
Decided February 9, 2011No. 91-00483Published
1Opinion of the Court
OPINION 1
MARY F. WALRATH, Bankruptcy Judge.
Before the Court are the Cross Motions for Summary Judgment filed by Plaintiff, Magna Entertainment Corp. (“MEC”) and by Defendant, PA Meadows, LLC (“PAM”) on the Complaint filed by MEC seeking payment under a Holdback Agreement between the parties. For the reasons set forth below, the Court will deny MEC’s Motion and grant PAM’s Motion for summary judgment.
I. BACKGROUND
MEC was the leading owner and operator of racetracks in North America. (To- hana Decl. at ¶¶4-5.) PAM is a subsidiary of MezzCo, LLC (“MezzCo”), which is in turn a subsidiary of…
2Cases cited21 opinions
- Anderson v. Liberty Lobby, Inc.Supreme Court of the United States · 1986
- Celotex Corp. v. Catrett, Administratrix of the Estate of CatrettSupreme Court of the United States · 1986
- Matsushita Electric Industrial Co., Ltd. v. Zenith Radio CorporationSupreme Court of the United States · 1986
- Morris v. New York State Department of Taxation & FinanceNew York Court of Appeals · 1993
- Dole Food Co. v. PatricksonSupreme Court of the United States · 2003
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